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Just
over a quarter of all Australian households rent-rather than buy-their
housing. Some 20 per cent of households rent from the private market
and 6 per cent rely on public housing.
The
Australian Bureau of Statistics (ABS) has collected information
on the profile of those who invest in property in Australia. This
profile shows that property investment is a feasible option for
many Australians-at least at some stage in their working life.
As
people get older, they are more likely to acquire an investment
property. The time when their children become independent is likely
to be their peak earning years-when many look to build up their
financial security, in preparation for retirement.
Not
surprisingly the ABS profile shows that the peak age group for property
investment is 45 to 54 years and that most are long term investors.
The
median income of property investors is $52,000 a year. This means
that half of them had income from all sources of more than $52,000
a year and half were below that figure.
The
value of the median investment property was $125,000. Again, half
of the properties were worth more than that figure and half were
less than it.
The
rent from the median investment property was $154 per week.
Some
70 per cent of investment properties were mortgaged and the median
mortgage was $83,000.
Just
over 60 per cent of investors select to invest in houses, 22 per
cent invest in units and 12 per cent invest in semi-detached or
terrace houses.
In
Summary:
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26%
of households rent their housing |
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20% from private market, 6% in public housing |
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as
people age, more people invest in property |
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peak
age group is 45 - 54 years |
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most
invest for the long term |
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median
income of investors is $52,000 |
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median
value of properties is $125,000 |
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median
rent is $154 per week |
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70%
have property mortgaged |
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median
mortgage $83,000 |
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62%
invest in houses, 22% in units |
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12%
semi-detached or terrace houses |
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