Gen Y keen to dive into property market - just not right now

A report released today showed that although there is a significant level of interest in property investment from Australians under 30, most are waiting for the new year before buying. The main reasons Gen Y gave for investing in property included wanting to set themselves up financially for the future (93%), seeing the advantages of property over share investment (73%) and low interest rates (66%).

Seventy-one per cent of Gen Y respondents said they would delay their purchase until after 31 December. This indicated that the recovery of property markets would continue well into 2010, said Sheppard.