Under-30s are the latest majority segment in the West Australian housing market, statistics show.
Mortgage Choice reports that nearly half of today’s homebuyers in the state are aged 30 and below, jumping by 60 percent since 2008. Experts say this trend points to a desire to diversify their investment portfolios early on, especially with interest rates playing just below five percent for both fixed and variable.
These “Gen-Z” buyers have shown exemplary financial discipline, much to the surprise of the lending industry. They were willing to get out of their comfort zones to save up for the right to be called homeowners. Some of them have even been actively saving since their teenage years. The reiteration on early financial education couldn’t be any clearer.