Young Australian men are turning to ‘rentvesting’ to get onto the property ladder – Daily Mail

New research has shown that the latest property trend among men 20-34 is rentvesting, living and renting in expensive urban areas while supplementing their incomes by buying and renting out properties in areas that aren’t as expensive. This allows these individuals to get on the property ladder while still living in more expensive areas enjoying the lifestyle that these areas can give them. This is especially prevalent among Sydneysiders who can expect to pay up to a million dollars to purchase in that area.

Key Takeaways:

  • A new Australian trend shows millennial men buying homes, specifically to subsidize their income, while they live elsewhere.
  • Data suggests Aussie renters could fork over from $600- $1500, depending on the locale.
  • Nearly a dozen years ago, Sydney and Melbourne renters were getting by with rents in the $250 to $400 range.

“The rentvestor strategy may have inadvertently contributed to the high rent prices”

Read more: http://www.dailymail.co.uk/news/article-4765220/Report-says-Australians-turning-rentvesting.html

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