New Land of Opportunity

Millennials are jumping on the property train at Caboolture.

According to HSBC's Beyond the Bricks report, Australian Millennials are lagging behind with just 28 per cent owning a property, compared with the global average of 40 per cent.

The report found that more than 75 per cent of non-owners said saving for a deposit was their biggest challenge.

At 19, Travis Scott is bucking the trend managing to buy his first block of land at Peet Limited's Riverbank community in Caboolture South. Mr Scott who completed a school based apprenticeship, has been saving since he was 15 and put down a $60,000 deposit on a $200,000 block of land.

"My goal was to have my own home by 21," he said.

"At first, I was on a junior wage, so i just got a loan for the land. Now I'm on an adult wage I'm planning to smash my loan and use the equity to go back to the bank to borrow for my house."

Mr Scott, a delivery truck driver from Deception Bay, said he chose the location for it's growth potential. He said his saving tip was to have a set amount each month directly deposited into a savings account. "If you have it come out automatically you don't miss it," he said.

Appeared in Caboolture Shire Herald on 1 June 2017.

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