How old is too old to get on the property ladder?
“First-home buyers in their late 30s to early 50s have been paying rent their whole lives while seeing their friends capture massive value with the growth of the market. They’ve decided to join the race as well.”
The combination of rising rents and low interest rates has made buying a more attractive proposition. Elbanna says older first-home buyers generally have larger deposits and are less concerned with snaring “glamorous” properties.
Some are even entering the downsizing phase of life, meaning smaller dwellings will suffice, while those close to retirement might be free to farewell the big smoke in favour of cheaper regional areas.