Logan Nicols has bought an investment property at Greenslopes but still rents at East Brisbane. Picture: David Clark/AAPGENERATION Y men have embraced property investment with new figures revealing they are behind a surge in the new trend of rentvesting.Rentvesting, when a homebuyer invests where they can afford to buy a property, but rents where they want to live, has become a strong category of property investment according to new research.It found those most likely to be rentvestors were male (65 per cent), Generation Y (61 per cent) and living in a metropolitan area (81 per cent).The research done by Ipsos on behalf of Westpac, found that six out of ten Australians still wanted to buy their own home.Westpac’s Head of Home Ownership, Lauren Fine, said it was interesting that young men dominated those becoming rentvestors.“We did find that young males dominated, we think it could be due to the fact that our research has shown over the years that men are a lot more into creating a wealth plan and that could be one of the reasons,’’ she said.“The other reason that we think could be playing a factor in that, is we know that Australian men earn around 16 per cent more than woman so that means their income will go a lot further toward helping them save for a deposit but also topping up any mortgage repayments if they found there was a shortfall for instance.’’Ms Fine said the results showed that property was still considered one of the key pillars of an investment strategy.For young property buyers priced out of the market they want to live in, rentvesting has become a viable alternativeShe said traditionally “in the old days’’ many considered buying a home to live in a priority, but that had changed, particularly as housing affordability for in demand areas had became a struggle.“We found that some of the key benefits of rentvesting nationally were that it was a great alternative pathway for first homeowners into property,’’ she said.“It really gives them a lot of flexibility around where they can afford to purchase versus where they actually want to live and have fun and play.“The rental income that they receive from the property really helps contribute toward the monthly payments and gives them the financial flexibility to rent where they want to live.’’The research surmised that the number of rentvestors would continue to grow as housing affordability became more of a challenge.Two in five of all those surveyed said they were open to rentvesting, with some revealing while they owned an investment property they were still living with their parents.Those who were rentvesting were most likely to have bought in the past two years.“This may suggest first home buyers have responded to these increases by purchasing in more affordable areas, while continuing to rent where they currently live,” Ms Fine said.Logan Nichols, 22, has just become a rentvestor with his first property acquisition after buying an apartment at Greenslopes.More from newsMould, age, not enough to stop 17 bidders fighting for this home2 hours agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investor2 hours ago“There were a number of things that indicated to me that the Greenslopes apartment would be a good investment,’’ he said.Mr Nichols thought it would be appealing to many workers at the nearby Greenslopes hospital and that it was a good growth area.“For city and other workers, the bus services are very close by,” he said. “The location offers a very good lifestyle with popular coffee shops and food as well as extensive shopping along Logan Rd.’’Mr Nichols said he had worked on the basis that if it was somewhere he would be happy to live, then so would a renter.“I also managed to negotiate on the property price. I feel this is an advantage that is best achieved when purchasing an investment property rather than a home.“If the price negotiations became higher than what I considered to be a good price, I was happy to move on and keep looking.” He decided to buy an investment for his first property acquisition for a number of reasons.Logan Nichols has bought a unit in this apartment block.“I am happy with my existing rental situation where I lease with three others at East Brisbane. This allows me to live close to CBD work at a good price while also being suitable for my dog.“ I had considered purchasing a home and offsetting some of the repayments by living with another individual. This would potentially allow me to claim stamp duty and first homeowner’s concessions.“However, a house suitable for my dog and within the price range I was looking for came at a compromise of location and living standard.“For me at this age, having my own home is not of high importance especially considering my requirement for location flexibility with work.”Melinda Allamby of Ray White Stones Corner said they were dealing with more rentvestors in the area and many of them were single male buyers.She said when it was a couple, usually they were buying to live in it.“Some younger people are capitalising on staying at home and buying.’’She said when it came to rentvesting, it was all about the numbers and rentability of a property.