Investor borrowing rises 35.4%
Property investors committed to $11.71 billion of home loans in July 2024, which was the second-highest month on record, according to the Australian Bureau of Statistics.
It was also 35.4% higher than in July 2023, showing the enormous growth in investor activity during that time.
Here are five reasons why so many Australians consider property investing a great way to build wealth:
- Capital growth – property prices have increased significantly over the long-term
- Rental income – the income you collect from your tenants can contribute to paying off your mortgage
- Tax benefits – you can potentially reduce your taxable income if your expenses exceed your income
- Diversification – property can balance out any shares you may own through your superannuation
- Flexibility – once you’ve accumulated enough equity in your investment property, you can use that to fund the deposit on another property
As you can see, property investing has a lot of potential benefits. If you want to know more, I’ll be happy to run some numbers for you.
|