When we try to comprehend as to what the kids are doing when online we perceive this as being hours spent on social media platforms, and game sites. It is time to wake up and realise that what are being referred to as kids are actually the upcoming target market for the property buying and selling.
In reference to the term kids it basically means those that are in the 25 to 35 years of age, so technically speaking young adults. About 20% of this age group are quite inquisitive about the real estate market.
This is quite an eye opener, back in 2013 indicators were that Australia was becoming known as a nation of renters. It is suspected that these 20% of real estate surfers are gleaning information to help them make decisions about their living quarters.
It is quite ironic that these young people would actually venture out and purchase properties when in general the media is not supportive of this in their content. They actually focus on the difficulties that can arise for first home owners and how unaffordable it is to be a first time home owner, that it should act as a deterrent. Yet there are still a good numbers of young buyers.
The question arises as to whether they are venturing out into the real estate market because they are looking at it as a financial investment, or are they gearing up towards getting a head start on life. Have they somehow been influenced by their parents? It could come down to all of these being the drivers for their online interest in real estate.
Investment purposes
The trend for the young jet set of today is a strong commitment to investment. If they buy something now that they can afford, then it can be their ticket to buying the house they want for themselves when the time is right. They are being smart in using their youth as they develop their careers to build up their property holdings at the same time.
Home roots
Others in this age category are thinking ahead when it comes to settling down into their own lifestyle. The time when they want to have a family which means being a homeowner with a mortgage. They are basically following in their parents footsteps of the tradition of saving up for the home deposit then preparing to carry a mortgage.
The Parents influence
Most parents will encourage their kids to invest in property and are actually willing to help them financially to accomplish this by padding the down payment. Even to the point where they may need to use the equity in their own home to do this. In general parents aren’t leaning toward the kids building a property portfolio but more towards home ownership for themselves.
Real Estate agents must make it a point to know this new target market. They have to keep an open mind in realising that the young couples are not just focusing on buying their first home to live in. They are looking at it as an investment.
It also important to understand that the parents are not the primary financial supporters here. These young people want their independence and using their own money for their own property purchases gives them that.
There are some that like the fact that at such a young age it gives them boasting rights as a property investor. The bottom line is though this young generation is focused on affordability with an eye on apartment investments as a means of investment potential.
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