close
close

 

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.

Subscribe to our updates to find out about new releases, special offers and events.

Please complete our short survey.
Your feedback will help us find the best option for you.

Take our survey and help us understand you better.

Step 1
Step 2
Step 3
Step 1
Step 2
Step 3

If you have signed up for updates previously, you can enter your email address here.

Don't have an account? Register now.

Subscribe to our updates, to find out about new releases, special offers and events.

Already have an account? Log in to Save and Compare.

View your Save and Compare

Continue browsing