First Home Buyers in Australia Are Getting Older

• First-time buyers are increasingly older and more financially established before stepping into the property market.

• 45.3 per cent of first home buyers are aged over 35,and make up 64.1 per cent of all buyer-types.

• The federal government’s expanded Home Guarantee Scheme commences this week on October 1, allowing first-time buyers to purchase with a 5 per cent deposit.

First home buyers are getting older

The traditional image of a first home buyer in their mid-20s is fast fading in Australia, as new data and industry insights reveal that first-time buyers are increasingly older and more financially established before stepping into the property market.

Research from home buying service MyFirstHome, a division of Oliver Hume Home Solutions, has revealed that 45.3% of first home buyers are aged over 35, and in fact, make up 64.1% of all buyer-types. First home buyers are also most likely to be renting (59.5%) or living with parents (19.7%).

Oliver Hume Home Solutions CEO Adam Duster said that many Australians are now waiting longer to make their first property purchase, reshaping the stereotype of the first home buyer as a young couple just starting out.

“The first home buyer of 2025 is no longer just a young adult taking their first financial step,” Mr Duster said.

“It is just as likely to be a 35-year-old professional, a couple with school-aged children, or someone looking for stability after years in the rental market.”

Mr Duster pointed to rising house prices, higher interest rates, and the challenge of saving for a deposit in the face of cost-of-living pressures, which have pushed the average age of first home buyers into their 30s and beyond.

“Wage growth has not kept pace with property prices in many parts of the country, meaning younger buyers often struggle to enter the market without significant financial assistance,” Mr Duster said.

“At the same time, lifestyle priorities such as travel, study, and career progression are prompting many Australians to delay home ownership until later in life.”

“We welcome all assistance to buyers in the market, particularly to first home buyers, but know that more needs to be done to boost supply.”

The federal government’s expanded Home Guarantee Scheme commences this week on October 1, meaning eligible Australians will be able to purchase a home with a deposit as low as 5 per cent without paying lenders’ mortgage insurance. The scheme, previously capped at 35,000 first-time buyers annually, will now be uncapped, subject to property price thresholds. Income caps will also be removed.

“While the dream of owning a first home remains strong, the journey to achieving it is taking longer, with more Australians entering the market later in life,” Mr Duster said.

MyFirstHome is backed by Oliver Hume Property Group’s 70-year history in property and community development, and is designed explicitly to guide Australians, especially first home buyers, through a personalised, research-driven approach to property buying that focuses on client needs and future goals.

The MyFirstHome platform is designed specifically to support first-home buyers to get on the property ladder by providing access to dedicated Home Buying Coaches to help navigate the increasingly complex world of grants, lending, co-ownership models, and property searching.

To begin your home ownership journey and take control of your financial future, visit www.myfirsthome.com.au to schedule a complimentary discovery session.

Mortgage brokerage services are provided by a related body corporate of MyFirstHome Pty Ltd, MyFirstLoan.au Pty Ltd ACN 168 808 946 (MFL) as a credit representative (Australian credit representative number 564038) of Allied Financial Consulting Pty Limited ACN 059 732 419, which holds Australian Credit Licence number 393845. As a credit representative, MFL is authorised to provide credit services where it is not a credit provider under any credit contract, for example, to act as a broker for loans provided by other credit providers. Loans brokered by MFL are structured and managed by Homestar Finance (which holds Australian Credit Licence 390860), which engages a professional trustee and lender to be the 'lender of record' for its loans. Quoted rates are correct as on publication date.