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New data from CommBank has found that millennials are not only the most active generation when it comes to buying investment properties, but many are happy to do it alone.
According to the data, 46 per cent of the bank’s new property investors in 2023 were made up of millennials (born 1981 – 1996), followed by Gen X (born 1965 – 1980) who accounted for 37 per cent of all new investment property purchases throughout the calendar year.
Nationally, the average age of property investors was 43 years, and the average loan size was just over $500,000.
Commenting on the data, Commonwealth Bank’s Executive General Manager Home Buying, Dr Michael Baumann, said it was interesting to see a significant proportion of millennial property investors opting to purchase property alone.
“From our data, we can see that almost one-third of all millennial property investors actually purchased their investment property on their own,” he said.
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