Millennials might pose and take lots of selfie photographs with mobile devices yet according to a Domain Consumer Insights study, 17 per cent of millennials own two or more properties.
What is also very interesting is that contrary to popular belief, millennials are buying their first investment property at the average age of 25. Millennials are the group of people born between 1980 and the early 2000s.
Millennials contrast with baby boomers, who on average purchased their first home nearly two decades later at the age of 45. Millennials commonly invest first, while renting. By comparison, the motivation to buy houses one to two decades ago was to have families in, not found a property investment portfolio.
These positive habits might be contributing to why so many of them are in fact ascending the property ladder at fairly young ages.