Rowville’s Average Renter Age is 30

By Belinda McGuire

People around the age of 30 are most likely to rent property in Rowville, analysis of census data indicates.

Carried out by the Real Estate Institute of Victoria (REIV), research shows that young renters are more attracted to the inner and outer suburbs, while the middle suburbs attract middle-aged people.

In fact, Melbourne is revealed to be largely a young person's city when it comes to tenants – the REIV analysis revealed that there are no suburbs where the renter's average age is above 40.

Furthermore, there are very few where the average age is between 35 and 39.

Earlier this month, Australian Property Investor (API) published research showing that people have a preference for mid-priced property at the moment.

The February 2013 Housing Market Report showed that stability in the global economy is encouraging people to get on to the property ladder, not least because their levels of sentiment have improved.

Senior economist at API Andrew Wilson highlighted that the All Ordinaries Index has been held above 5000 for the first time in three years, while the Australian property market is showing some signs of recovery.

This, coupled with a low interest rate environment, could give people the incentive they need to get onto the property ladder.

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