Great Aussie Dream shunned in favour of ‘rentvesting’

  • First-home buyers are turning their back on the Great Australian Dream of having their own home to live in and are instead increasingly opting for an investment property first, new data shows.

Described as ‘rentvestors’, a third of investors in 2016 were first-time buyers who had not yet bought their own home, a Mortgage Choice survey found.

This compares to when the property boom was heating up in Sydney and Melbourne two years ago when about 20 per cent of investors fell into this category.

READ MORE VIA DOMAIN.COM.AU

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Jef Miles, 26, has bought an investment in Queensland while continuing to rent in a Sydney sharehouse. Photo: Jesse Marlow

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