1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar




Property News

Aussie First Home Buyers are Now Older

September 04, 2011

Australia’s first home buyers are six years older than four decades ago


Recent research conducted by mortgage insurance provider Genworth found that the average borrowers are now waiting until their thirties before taking on large amounts of debt.

 

Genworth’s research revealed a number of interesting statistics about the way we invest and borrow in Australia:


The average age of first home buyers has risen to 31 years, up from 25 years in the 1970’s.


Australian homebuyers are among the most indebted in the world, but are also the fastest at paying off their debts. 


More than a third (39%) of the 1,000 Australians surveyed use more than half their income to pay down debt.


45 per cent of Australian homebuyers overpaid on their repayments (well above the average of 26 per cent in the other surveyed markets).


The research also indicated that Australians go to great lengths to service their debts, with around 80 per cent of homeowners having “no trouble” meeting their mortgage repayments in the last 12 months.

Latest Articles

LJ Hooker continues growth in 2014-15

Leading real estate group LJ Hooker will continue to strengthen its network in the new financial ...
read more

Housing at its most affordable

Despite price growth, housing affordability was at its best point in more than a decade during the ...
read more

Highlights of great lights

In this excerpt from his latest column for myljhooker.com.au, interior designer and judge of The ...
read more

Best start to a year since 2009

The first three months of 2014 recorded the highest number of quarterly home sales in five ...
read more

NEW FINANCIAL YEAR BUT NO CHANGE TO RATES

The Reserve Bank of Australia’s decision to keep interest rates at historic lows today is ...
read more

Minimal spend for maximum result

Recently, a landlord added an estimated $25,000 of worth to their property by constructing a ...
read more