…through the real estate market as a breakthrough pathway to generate wealth. Millennials aka Gen Y, are more tech-savvy than all previous generations. We are increasingly using digital platforms and social media to connect with people, sourcing information and to buy products online. Millennials comprise 4.2 million Australians and this equates to 20.5% of the Australian total population. Millennials are brought up to have different spending habits, different lifestyle choices, different future goals and their definition of financial freedom is different to their elders which has led to major changes that have impacted the real estate market as we see it today.
Now more than ever, we have the ability to buy or sell real estate digitally without physically visiting the properties, development sites, or meeting real estate agents, brokers, and conveyancers in person. In today’s digital world first-time buyers use technology to its greatest extent with 80% of millennials finding their home using only their mobile platforms and 93% of millennials preferring to communicate through text messaging or telephone. From gathering information about how to enter the real estate market to purchasing properties online, the internet has an overwhelming amount of information available. Prospective buyers now prefer to do their own research online before talking to a real estate agent to get a general understanding of the real estate market, so that they feel more prepared when speaking to an agent or seller.
Only 24% of Australians over the age 18 are financially prepared for retirement. This is due to not having the financial understanding on building a financial foundation to allow them to retire. One of the biggest regrets that all Aussies have is that they didn’t prioritise their financial future earlier in life. You will often hear someone say “I wish I had bought that property years ago – I would have made so much money” and ultimately would have been in a better financial position.
If you’re looking for ways to buy your first home or investment property, then speak with us today. Our team will work with you 1-on-1 to firstly understand your financial situation then create a tailored investment plan specifically towards your future goals. Let our experts help guide you through all those obstacles that you’ll face during your property journey by booking a Property Strategy Session with us today!