First Home Buyers are Getting Older

First Home Buyers are Getting Older In recent years an interesting worldwide trend has developed: first home buyers are getting older.

In the US, Canada and Australia, debt is weighing down many who are trying to get a foot onto the property ladder, with one in five borrowers spending more than half their income on their mortgage repayments.

High debt levels have seen aspiring first home buyers doing so later in life. The average age of the new home buyer has risen from 27 in the 1970’s to approximately 30 in the 2000’s.

In Australia the average first home buyer’s age is 28.6.

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