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YOUNGER than av­er­age buy­ers are driv­ing sales at AV­Jen­nings’ Vil­lag­gio.

So far about 70 per cent of the 142-town­house de­vel­op­ment at Richlands has sold, with about 15 per cent of stock still to be re­leased.

Sales con­sul­tant Paula Pig­ott said even though in­ter­est rates were at his­toric lows, and first home buy­ers had govern­ment in­cen­tives, some young buy­ers were still find­ing it dif­fi­cult to pur­chase a home.

“De­spite pos­i­tive mar­ket con­di­tions, buy­ers through­out Aus­tralia are tak­ing longer to save a de­posit for their first home than in years gone by,” she said.

Ms Pig­ott said while the av­er­age age of first home buy­ers was over 30, Vil­lag­gio had seen an in­flux of younger buy­ers.

“While many Gen­er­a­tion Y buy­ers are fo­cused on sav­ing a hefty de­posit to live in the city cen­tre, with life­style ameni­ties be­ing at the fore­front of their de­ci­sion, many of our buy­ers are recog­nis­ing that by liv­ing just 15km out of the city, and just a 30-minute com­mute by train to the city, they are get­ting more for their money, with­out ac­tu­ally sac­ri­fic­ing any life­style ben­e­fits,” she said.

Alex Grave­nall, 23, bought a three-bed­room town­house at Vil­lag­gio af­ter be­ing in the mar­ket for al­most three years.

“I wanted to es­cape the rent cy­cle but I sim­ply could not jus­tify spend­ing $390,000 on a se­cond hand one-bed­room apart­ment in New Farm when I could buy a brand new three­bed­room town­home for $30,000 less a lit­tle fur­ther out and be el­i­gi­ble for the first home own­ers grant,” she said.

BET­TER VALUE: First home buyer Alex Grave­nall bought a three-bed­room town­house at Vil­lag­gio, Richlands.

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