FHB’s getting older: ABS

FHB’s getting older: ABS

12 January 2010 by Staff Reporter 0 comments

First-home buyers are getting older, according to data from the Australian Bureau of Statistics (ABS).

Figures from the ABS showed two thirds of first home buyers were under 35 years of age in 2008.

However, more than 75 per cent were under the age of 35 seven years earlier.

Over the same period, the share of first-home buyers aged 45 of more edged up from 5.6 per cent to 6.7 per cent.

"Strong growth in house prices has meant that First Home Buyers are effectively forced to delay the purchase decision until later in life," HIA senior economist Ben Phillips said.

In Sydney, the proportion of under-35 home-buyers fell to 58.5 per cent in 2008 - from 80 per cent in 2001.

The share of over-45 year-olds becoming first-time buyers ticked up to 10.7 per cent from 8.9 per cent.

First-home buyers are getting older, according to data from the Australian Bureau of Statistics (ABS).

Figures from the ABS showed two thirds of first home buyers were under 35 years of age in 2008.

However, more than 75 per cent were under the age of 35 seven years earlier.

Over the same period, the share of first-home buyers aged 45 of more edged up from 5.6 per cent to 6.7 per cent.

"Strong growth in house prices has meant that First Home Buyers are effectively forced to delay the purchase decision until later in life," HIA senior economist Ben Phillips said.

In Sydney, the proportion of under-35 home-buyers fell to 58.5 per cent in 2008 - from 80 per cent in 2001.

The share of over-45 year-olds becoming first-time buyers ticked up to 10.7 per cent from 8.9 per cent.

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