Brighter Buying

Gen Ys battle Baby Boomers on property ladder

by Kate Watt, Marketing Manager 27 January 2016

They’re the tech-savvy, selfie-stick loving generation born after 1980. And when they’re not too busy using those selfie sticks to share duck-face mug shots with legions of online followers, Gen Ys are savvy players in the real estate market.

The Courier-Mail reports Gen Y buyers are content to mix renting, buying and investing to meet their financial and lifestyle goals.

With many preferring inner city apartments, they’re also aware of their financial limitations compared to cashed-up baby boomers downsizing with unconditional finance clauses.

“You don’t want to compete in an emotional bidding war – and definitely not with cashed up buyers,” Gen Y buyer Martin Peril told The Courier-Mail. “They are not going to compromise, you just have to walk away.”

But the stats suggest all is not lost in the Gen Y vs Baby Boomer battle.

A Domain Consumer Insights Study conducted last year found that 16% of Gen Ys own two or more properties, compared to 17% of Baby Boomers and Gen Xs.

Looks like our younger property moguls are proving fair competition for more experienced buyers.

Gen Y – you may think you know it all, but here’s a tip: duck face is very 2015, it’s all about fish gape now.