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  • Australians increasingly delaying buying first property

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    Data released today from the Australian Bureau of Statistics (ABS) shows more Australians are delaying buying their first home till later in life.

    The 2013-14 data shows in 2000-01 just over 60 per cent of Australians bought their first home when they were between the ages of 25 and 34 years old. In 2013-14, that number had fallen to just under 50 per cent.

    A report on the ABS data by the Australian Housing and Urban Research Institute (AHURI) said the rise in Australians obtaining their first mortgage at an older age meant more people would be left still paying off a mortgage when they hit ‘retirement age’.

    “Indeed, as other ABS Housing Occupancy and Costs data shows, the proportion of households aged 65 and over still paying off their mortgage has more than doubled, having risen from 3.6 per cent of all households aged 65 and over in 2000–01, to 8.2 per cent in 2013–14,” AHURI said.

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