22 Jun 2017
Who Are Our First Home Buyers And What Do They Want?

Who Are Our First Home Buyers And What Do They Want?

Who Are Our First Home Buyers And What Do They Want?
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Guid,Tips,Selling,Auction real estate agents

Fast facts

  • 25 to 44 years

  • 3.3 people per household

  • 36% no children at home

  • 30% couples or living alone

  • A projected 26% of total new housing demand over next decade

Brief description 

  • Generally have a HECS debt

  • Portfolio work, not long-term work commitment

  • Partnering later

  • Parent as friends

  • Sex, less stigmas, very little tradition

  • Fewer children

  • In short, options galore – so it is not until their late 20s/early 30s to early 40s that many buy their first home

Housing considerations

  • Room to grow

  • Affordability

  • Property improvement

  • Tenant/s

Preferred housing options

  • 10% to 20% – inner city apartments

  • 20% to 30% – townhouses/duplexes and similar multi-housing products in mid-range suburbs

  • 50% to 70% – detached-based homes in mostly outer suburbs

What most buy

  • A property that can be improved – so they often buy an existing dwelling – in fact, four out of five first home buyers buy an older established home.

  • A property that is capable of taking in a tenant/s to help pay the mortgage.

So what does this info mean?

Given that first home buyers are looking for a home they can improve – and when it comes to a middle or outer suburban setting – our discussions with this market segment suggest that a new smaller, yet high quality house (being either a one or two-bedroom property) has considerable appeal.

The key is that this home is sold with an approved building extension/improvement plan and costing in place – so that they can expand the house, within a set time frame and budget.

This arrangement allows a young couple to afford a home now – maybe gain some additional rental income over the short to medium term – and expand (or improve) it as their needs change and/or finances improve.


When looking to purchase your first home, be sure to speak to a Financial Expert to determine your position and consider getting a pre-approval. Naked Real Estate use Ash Blue Finances for all our financial needs.

Written by Naked Writers

Who Are Our First Home Buyers And What Do They Want?
Naked Writers

Naked Real Estate Writers collaborating to bring the latest news and trends in real estate for buying, selling and working in the exciting world of real estate. Is it time for you to get Naked?

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