Will owning a home be out of reach for the next generation?

After reading Otto Dargan's article "Owning a property will be out of reach for most Aussies within 50 years" on RealOtto Dargan - Blogger for REB Estate Business's website it made me reflect on how fortunate we are in Tasmania where housing is still within the reach of most employed people.

 
As you can see in the below article, predictions are that it will very quickly, and in many cases is all ready, out of reach of most people even with high-paying jobs in Sydney, and other cities around the country.

The article goes on to say: "Based on the current low-interest rate environment and housing supply shortage, a continued average 8.52 per cent per annum increase could see the Sydney median house price reach $1.84 million by 2024, $9.45 million by 2044 and a staggering $48.5 million by 2064”. That's a property worth $1.84 million in 2024 being worth $48.5 million in 2064!

Whilst housing is currently so affordable, doesn’t it make sense to buy an investment property and get the growth of potentially millions of dollars, for in the majority of cases, an outlay of a deposit? For as little as $50-$100 a month to top up a negativie cash flow, or structured right $0 per month with a small deposit. We are so fortunate in Tasmania
many investors that I have come across have been able to pop aside a little bit of money each week to form a deposit and now have a portfolio of 5, 10, 15 investment properties  This is not a fairy tale - it is within the reach of the majority of people with just a little bit of planning. Please don’t think this is an elitist thing, this is within the grasp of most people within steady employment.  

If you would like to discuss buying an investment property, please call my team on 03 63315544.

 

Best Wishes,


Peter

To read Otto's full article, click the link here.

 

 

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