Good information for your next investment property – choosing the best design for an investment property
An increasing number of Australians over the age of 40 are turning to share housing, with this in mind we have some good information for your next investment property.
As house prices and rents climb, more and more 40 plus year-olds are finding that the only way they can really afford to rent, particularly in the inner suburbs of our cities, is to move in with a flat mate.
This should guide clients interested in property investment in their selection criteria for a good apartment. Of course, the first thing we look for is a property that will be most appealing to future owner-occupiers in the area; we consider our exit strategy before we purchase. Another critical factor to consider is the investment property’s appeal to local renters. Now with an increasing number of single mature people looking for shared housing, as well as the very significant numbers of young professionals also looking for share accommodation, it is essential to ensure that your new property investment has at least one bathroom for each bedroom.
A recent Domain article highlights the increasing number of Australians over the age of 40 turning to share housing. Their data comes from share house listings service flatmates.com.au.
Between the start of January and end of February this year, the number of people over 40 looking for accommodation on the website jumped – relative to the total number of people looking – 20 per cent year on year.
It’s not surprising when we see the median rental price for an apartment in Sydney is $500 a week and it’s not much less for a well located apartment in our other major cities.
The concept of Share accommodation is no longer just housing for those moving out of the family home or for students; sharers have become far more diverse and include anyone from young professionals, single mums to retirees and or downsizers.
It’s information property investors should note when looking for that new investment property.
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