Australians buying their first home in today’s market are more likely to be older, smarter about investments and have close family relations involved in the sale, senior property figures say.

Young couples in their 20s no longer dominate the ranks of those buying a property 
for the first time.

An increasing proportion of first home buyers, who officially make up about 14 per cent of all home buyers, are aged in their early 30s and are purchasing established and new homes as investments, experts said.

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Buying a house is a more financially demanding decision than ever before.

A higher proportion are combinations of young and older couples, singles as well as siblings.

More of these first-time buyers are acquiring a property as an investment with the intention of “eventually moving in” when finances permit, Orbit Homes director Paul Millson said.

“It’s trending that way, with a mix [of first home buyers], traditional owner-occupiers and investors,” said Mr Millson, whose company builds homes in Victoria and Queensland.

A large proportion of those purchasing his homes are siblings — brother/sister, sister/sister or brother/brother combinations — who pool finances to combat higher property prices, the Orbit chief added.

“Twenty-five per cent of our [first home buyer] clients would be siblings whether they are doing it as an investment or to live in [the property],” Mr Millson said.

There is “no doubt” the number of siblings buying properties will soar in the next few years, he said.

PRDnationwide managing director Tony Brasier agreed there is a trend to older buyers picking up a 
property to get a toehold in the property market.

Sold! But most likely to someone older, with a firmer financial foundation.

“I think [the trend] is to buy an investment property rather than buy a place to live in,” Mr Brasier said.

“They
 have to get an education and then a job in their twenties before hopefully they can get a place to live in.”

Many first homebuyers are now in their early 30s, said Metricon managing director Ross Palazzesi.

“They are just starting off in their early 30s. They are getting married at 35 and buying anything that’s affordable. I am
 hearing that more first home buyers are purchasing properties as an investment and using the (rental) proceeds to buy
 their own home, which makes sense,” Mr Palazzesi said.

“They are buying investment properties in areas not 
where they want to live. They are living in the inner city and buying in the outer suburbs.”

The new breed of first home purchasers typically will be aged in their late 20 to early/mid 30s, Housing Industry Association chief economist Harley Dale said.

“They tend to be older than they once were,” Mr Dale said.

“Twenty or even 10 years ago they were typically young couples in their early to mid 20s with no children or very young children. Now the demographic includes singles, younger and older couples.”

And in many cases they are buying their first home as an investment property which they will lease out, so the total number of first homebuyers is higher than the officially counted owner-occupier segment comprising 14 per cent.

“They then use the proceeds of that property over say, five years, to buy their own home to live in or put down a deposit on their dream residence.

“First-home buyers in the past for their most part were owner- occupiers. Very few bought properties as investments.”

This story was brought to you by The New Daily using data and other information from its real estate content partner, realestateVIEW.com.au. To download the new free realestateVIEW.com.au app click here.