Generation Y do-it-yourself (DIY) investors are shying away from investing in direct shares in favour of the property market, a new survey has found.
Generation Y investors have a greater weighting of assets in property than any other investment sector, according to the inaugural RaboPlus DIY Investor Research Summary.
These investors have 23.9 per cent in property compared to 22.4 per cent in cash, and 16.4 per cent in shares.
Generation Y investors even have a larger weighting in property than Generation X, or the 30 to 39 year olds, who have 20.9 per cent in property, 19.5 per cent in cash and 18 per cent in shares.
"Australia's love affair with bricks and mortar investing is alive and kicking, with all investors likely to make a higher allocation to investment property than they are to compulsory super," RaboPlus senior manager investments and managed funds Tim Hewson said.
The survey also found that both Generation X and Y consider themselves to be big risk takers, with one in three saying they would change their investments and take risks if the rewards were higher.
Meanwhile, investors in the 40 to 49 year old bracket are more inclined to save for their retirement, whereas Generation Y is saving for a property, the survey found.
The RaboPlus DIY Investor report surveyed 502 investors and was conducted by Celsius Research in July.
