FOMO is real. Gen X buyers speed up property search as loan conditions improve
If you were raised on mix-tapes, dial up phones and Nirvana, you're too young to retire but too old to TikTok, and too skeptical to care either way - chances are you're a Generation X (born 1965-79).
Mixtapes your love language? Chances are you're house hunting. Pic by Mindspace Studio on Unsplash
And according to the View.com.auPath to Purchase report, you and your fellow Gen X'ers are leading the charge in buyer activity, accounting for 35 per cent of all residential purchases.
Gen X is followed closely by Millennials (1980-94) at 28 per cent and Baby Boomers (1946-64) at 27 per cent.
While Generation Z (1995-2009) is beginning to enter the property market, they currently represent just 7 per cent of all buyers.
READ: Millennials like me are turning 40. So, why don't we own a house yet?
Household composition data also reveals that couples without children make up the largest share of buyers at 32 per cent, with couples with children following at 27 per cent.
The report reveals the average buyer journey has dropped to just 20.5 months, down from 25.9 months in 2024: a 20 per cent decrease in time buyers are in the market.
View.com.au property expert Simon Cohen said: "View.com.au's Path to Purchase report already shows the average property buyer's decision making journey dropping by close to a third since 2020, and I think that's just the beginning. What used to take 18 months could soon take six. I see that timeline continuing to shrink as better data and smarter tools empower buyers to act more decisively."
This rapid acceleration in buying decisions is being fueled by increased buyer urgency amid falling interest rates and a more favorable lending landscape.
The active purchasing phase (when buyers are inspecting properties and making offers) now lasts just over three months, highlighting a market in motion.
These figures suggest that dual-income households, particularly those without dependents, are well-positioned to act quickly in the current lending environment.
The research shows that FOMO (fear of missing out) is real and buyers are acting fast to lock in property.
According to Christian Stevens, CEO of mortgage brokers Flint, the likelihood of a July rate cut is driving "pre-emptive" buyer behavior, with lenders reporting a noticeable spike in home loan applications.
"With the rate cut cycle now well underway, we're seeing almost every client favour variable loans to ride the easing wave. It gives them flexibility and positions them to benefit from each subsequent reduction."
Supporting recent data from NAB shows a substantial increase in loan pre-approval activity, as a growing number of first-time buyers are entering the property market, with NAB reporting a 16 per cent rise in home loan applications.
Victoria is at the forefront of this trend, revealing a 28 per cent increase in first-home buyer lending since February.
Western Australia and Queensland are also seeing strong momentum, with lending up 22 per cent and 21 per cent respectively.
Nationwide, total lending to owner-occupiers has surged by nearly 30 per cent since the Reserve Bank introduced its initial interest rate cut earlier this year, reflecting renewed confidence and affordability among Australian homebuyers.
The current shift in the market is not only a response to improved affordability but also reflects a broader trend of informed, financially prepared buyers taking advantage of real-time data and digital tools. The View.com.au report positions the platform as a leader in real estate analytics, delivering detailed insights into buyer behaviour and market trends.
These conditions are expected to persist through the second half of 2025, with further competition likely as rates continue to decline.
Stevens said: "As of mid-June, the ASX RBA Rate Indicator shows a growing consensus for a third cut in July. While not locked in, the odds are firming fast. Markets are increasingly confident that the easing cycle is well underway."
View.com.au's Path to Purchase report illustrates that property buyers are more agile, informed, and ready to act in 2025, which is setting new expectations for sellers, agents, and lenders alike in what had previously been a sluggish housing market.
READ: Property rush: Aussies fast-track home buying
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