Nearly 70% of Australian real estate investors made some sort of lifestyle sacrifice to allow them to afford an investment property... Apartment market still booming as commencements hit record mark...
Sacrifice necessary for 7 out of 10 investors
While some people believe Australia’s younger generations are unwilling to make sacrifices in an attempt to break into the property market, it appears investors have no such qualms about going without.
Figures from Mortgage Choice’s 2016 investor survey shows that 69.4% of Australian real estate investors made some sort of lifestyle sacrifice to allow them to afford an investment property.
That figure is up from 68.5% compared to the 2015 survey.
Mortgage Choice chief executive John Flavell said given current conditions in the real estate market it’s easy to see why investors are making sacrifices.
“Data from CoreLogic found property values climbed 8.3% across the combined capital cities over the last 12 months. While some capital cities performed better than others in terms of property price growth, it is fair to say that most markets have enjoyed an upswing in values over the last few years,” Flavell said.
“With that in mind, I am hardly surprised to hear investors are having to make sacrifices in order to achieve their property investment goals,” he said.
Apartment market still booming as commencements hit record mark
The first three months of 2016 was a record breaking period for Australia’s apartment market as it hit a new high for building commencements.
Analysis of Australian Bureau of Statistic (ABS) data by CoreLogic has revealed apartment commencements rose to a record breaking 29,987 over the March 2016 quarter.
In comparison, the number of detached housing commencements fell for a second straight quarter to 25,122 over the three-month period.
According to CoreLogic’s analysis, unit commencements hit record highs in New South Wales and Queensland and also saw significant increases in South Australia and the ACT.
Detached house commencements rose in South Australia, Tasmania and the Northern Territory but fell in all other jurisdictions in the three months to March.
(Your Investment Property)
While some people believe Australia’s younger generations are unwilling to make sacrifices in an attempt to break into the property market, it appears investors have no such qualms about going without.
Figures from Mortgage Choice’s 2016 investor survey shows that 69.4% of Australian real estate investors made some sort of lifestyle sacrifice to allow them to afford an investment property.
That figure is up from 68.5% compared to the 2015 survey.
Mortgage Choice chief executive John Flavell said given current conditions in the real estate market it’s easy to see why investors are making sacrifices.
“Data from CoreLogic found property values climbed 8.3% across the combined capital cities over the last 12 months. While some capital cities performed better than others in terms of property price growth, it is fair to say that most markets have enjoyed an upswing in values over the last few years,” Flavell said.
“With that in mind, I am hardly surprised to hear investors are having to make sacrifices in order to achieve their property investment goals,” he said.
Apartment market still booming as commencements hit record mark
The first three months of 2016 was a record breaking period for Australia’s apartment market as it hit a new high for building commencements.
Analysis of Australian Bureau of Statistic (ABS) data by CoreLogic has revealed apartment commencements rose to a record breaking 29,987 over the March 2016 quarter.
In comparison, the number of detached housing commencements fell for a second straight quarter to 25,122 over the three-month period.
According to CoreLogic’s analysis, unit commencements hit record highs in New South Wales and Queensland and also saw significant increases in South Australia and the ACT.
Detached house commencements rose in South Australia, Tasmania and the Northern Territory but fell in all other jurisdictions in the three months to March.
(Your Investment Property)
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