29 December 2015
Under 35s are the new property investors
The average age for investment property owners is now 34 and in Gen Y category, it is 25 with 16 percent of generation Y owning two or more properties.*
Adam Jackson, COO of Pula Capital, said, “As a boutique finance company we are finding that property investment owners are getting younger. They are staying at home and their first property purchase is not the one that they will live in.”
He said, “Many from the Sydney market are buying properties in the outer western suburbs of Sydney and in some cases in the outer suburbs of Melbourne and Brisbane.”
Pula Capital is helping the under 30s to achieve their dreams.
Jackson said, “We can help people with salaries as low as $35,000 pa get into the property market and have the rent cover their repayments.”
Buying an investment property as your first home has a lot of positives including that many of the costs including the interest can be claimed as tax deductions, the rent will help you to service the loan and as the property increases in value, it means there is more equity to use when buying your next property.
Whilst property prices have cooled, rental prices are rising at the fastest annual rate seen in the past four years. The median rent for units is now $510 per week so it is a great time to get into the property investment market.
For those wanting to get into the property market, research is the key to finding the best areas with the best rental returns. The following websites are a great place to start for investment information.
*Domain Consumer Insights Study