Analysing the age bracket of home seekers in the first half of 2019, the report, conducted by a property consultant Anarock, said that at least 37 per cent of participants serious about buying homes fall in the age bracket of 35-45 years, followed by 25 per cent in the 45-55-year bracket.
The report also revealed that 20 per cent participants are in the age bracket 25-35 years and at least seven per cent are under 25 years of age.
The homebuyer share of these two age brackets was extremely limited in the early 2000s.
Towards 2009-2010, easy home loan availability boosted the share of homebuyers falling in the 25-35 years age bracket, the study said.
In late 2010, buyers were largely in the age group of 35-45 years and 45-55 years, but the share of homebuyers in the 25-35 years age group was minimal.
However, improved tax benefits motivated more working youth in this age bracket to opt for home loans.
Millennials predominantly favoured paying EMIs to own a home over the 'dead' expense of rentals.
The ranks of the vital age demographic swelled steadily till about 2015-16.
However, since then, many millennials are rethinking the notion of buying homes at this relatively early age.
In Mumbai, 37 per cent home seekers are in the age group of 35-45 years, followed by 28 per cent in the 45-55 years. Also, nearly 16 per cent are in the 25-35 age bracket, while another 12 per cent - predominantly start-up entrepreneurs - fall in the below-25 age group.
In Delhi-NCR the trend is reverse. At least 37 per cent home seekers are in the age group of 45-55 years, followed by 26 per cent in 35-45 years age bracket.
Bengaluru has at least 52 per cent property seekers in the age-bracket of 35-45 years. 18 per cent of Bengaluru's home seekers are in the age bracket of 45-55 years and almost 21 per cent are below 35 years of age.
( With inputs from IANS )