Full Article, Originally published February 5th, 2025, Herald Sun
Millennials are proving the great Australian dream isn’t dead, it’s just evolved – as they outpace Boomers in property investing. By embracing innovative approaches like rent-vesting, co-investing, and targeting regional hotspots, millennials are not only getting into the market, but starting to thrive in it.
33-year-old Pascal Butler and his partner Georgia, who rent in Box Hill, shifted their mindset after realising homeownership in their dream suburb was out of reach while raising their daughter Mimi.
“Buying a home felt impossible while renting in Toorak,” Mr. Butler said.
“But with my dad’s help and guidance from property investment group OpenCorp, we secured our first property in Perth — and it’s already grown by $250,000 in value.”
Watch Pascal’s Rent-vesting Success Story:
Mr. Butler said instead of chasing the white-picket-fence dream he has remained focused on building wealth through investments.
“Our first property doesn’t cost us anything out of pocket, and it’s growing in value, which puts us in a better position to buy the home we really want down the track,” he said. And with another baby on the way Mr. Butler said he is getting ready to purchase another property to continue building his portfolio.
OpenCorp chief executive Cam McLellan said co-investing is another approach gaining popularity as millennials look to share the financial load with mates or partner. This approach can get buyers into the market faster.
“By splitting the deposit and costs, millennials can get into the market sooner without sacrificing their lifestyle,” Mr. McLellan said.
“It’s a win-win if you have a clear agreement about responsibilities and profit-sharing.”
The OpenCorp chief executive said millennials’ willingness to take bold steps will pay off in the long run – with lower interest rates predicted for 2025, their borrowing power is expected to increase, giving them an even bigger advantage in the market.
“The longer you wait, the harder it gets,” Mr. McLellan said.
“But with the right plan, millennials are proving you can thrive — even in today’s market.”
