Data from HomeStart Finance shows that people over the age of 40 now account for nearly 25% of its home loans, compared with just 9% in 2011.
The figures also show that there has been 63% growth in the number of first-home buyers (FHBs) who are in their 40s since 2015, and 56% growth in those aged 50+.
HomeStart CEO Andrew Mills expects the trend for people to buy their first home in their 40s and 50s to continue, citing factors such as rising house prices and the high cost of renting.