Stay-at-home property investors on the rise

A NEW class of landlords buying an investment property while living with their parents is growing.

Pushed by affordability issues those adopting the approach may be exacerbating record low figures of first homebuyers entering the market. A recent survey of more than 1000 Australian investors by Mortgage Choice revealed almost a quarter, 23 per cent, intend to buy an investment as their first property — up from 19 per cent in 2011.

‘‘This may have to do with the fact that nowadays many first home buyers are staying at home longer, and in turn may buy an investment property as a means to enter the property market sooner,’’ said CEO Michael Russel. ‘‘The fact that an investment property will be the first ever property purchase for 23 per cent of first time investors is quite substantial.’’