The average age for leaving home in Australia continues to rise, according to new research.
Property site realestate.com.au has found only 17 per cent of those looking to rent were aged less than 25 years.
Males from high-income families were most likely to still be at home with their parents, with less than 30 per cent of those looking to rent being males.
Australia’s typical tenants were females aged between 35 and 49 with an income in excess of $50,000 and looking for rental properties priced at more than $300 per week.
Although it was a tenants’ market in a majority of states, respondents from high-income households ($100,000-plus) were most likely to stay at home for ‘lifestyle factors’.
“Naturally we have seen a shift back towards a tenant’s market,” said Amy Sanderson, head of Property Investment Management at LJ Hooker.
“In a majority of states, rents are reasonably steady and with a high number of available properties, it is a good time to be looking to rent.
Overwhelmingly, respondents to the survey said that winter was the best time to find a rental, so all the signs are strong for prospective tenants.”
realestate.com.au national sales manager Arthur Charlaftis added that with relatively strong rental markets across the country, the timing was also right for prospective landlords to lease out property.
“Rental markets are still strong, with more than five people typically competing for a property, so the news is equally good for those looking to lease their property.”