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Tuesday May 14, 2013

'Young people drive property market'

Property purchasing in South Africa was being driven by a younger generation that relied on the internet for information, bond originator ooba said yesterday.

Its research showed that the average age of first-time home buyers was 33 years, and people applying for an ooba bond were 37 years old on average.

Chief operations officer Rhys Dyer said that most of this younger market had used e-mail addresses for most of their adult lives.

"They have used search engines over any other reference tool when they're looking for information, have Facebook profiles, and interact with friends and brands on Twitter," Dyer said. "Naturally, when considering buying a house, the internet is the first place they'll look."



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