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:
Flexibility – once you’ve accumulated enough equity in your investment property, you can use that to fund the deposit on another property
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
As you can see, property investing has a lot of potential benefits. If you want to know more, Gab from the Finance Co. Group would be happy to run some numbers for you. Please feel free to reach out to Gab and the team on 8004 5020.