New install fails with Java version error

After following the steps on the website I have got to the 'install -dis' 
stage and I am getting the following error:
$OPENNMS_HOME/bin/install -i
Exception in thread "main" java.lang.UnsupportedClassVersionError: 
org/opennms/bootstrap/InstallerBootstrap : Unsupported major.minor version 
52.0

I understand this is a java version error, so I ran java -version and I get:
java version "1.8.0_45"
Java(TM) SE Runtime Environment (build 1.8.0_45-b14)
Java HotSpot(TM) 64-Bit Server VM (build 25.45-b02, mixed mode)

JAVA_HOME is set to /usr/lib/jvm/java-8-oracle and OPENNMS_HOME to 
/usr/local/OpenNMS

Any ideas??


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