We are a proud member of the Financial Services Online network!
Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.
Due to the challenging landscape of the real estate market in the past year, young Australians have adopted an innovative model known as "rentvesting" – purchasing a property with the primary intention to lease it out. Lendi, a premier home loan service, portrays the quintessential first home buyer as a strategic planner eyeing the long haul rather than a quick move-in.
A deeper dive into Lendi's figures shows an unexpected rise in this behavior across the states, with the renting strategy drawing considerable interest in distinct regions. New South Wales leads the charge where 30% of first-timers are set on becoming landlords, while sunny Queensland and cosmopolitan Victoria follow closely behind, marking a new era for entering the market with investment top of mind.
This method isn't singularly motivated by future gains, but also by a desire to preserve lifestyles, with first-time buyers less willing to compromise on their current living standards. The success of Queensland in the recent year, now being crowned as the favorite among these new buyer-landlords, owes a nod to the state's initiatives like the doubled First Home Buyer grants, fuelling a whopping 45% takeover of new purchases in January 2024.
It seems that banding together is another financial maneuver gaining traction, with Lendi's statistics pointing out that six percent of first home buyers band together, pooling resources by applying in threes or more—presumably to alleviate personal financial burdens. Additionally, the resurging guarantor loan, doubling in uptake last year, champions the collective spirit in property acquisition. Through such means, entrants have skirted around the demand for hefty starting capital, often only necessitating an average of $38,000 if backed by a parent or guardian's equity.
Overall, the emerging investment-focused behavior among new property buyers, combined with savvy pooling of resources and the solid backing of family, sketches the contemporary path many are taking to succeed in the property domain. With states like Queensland setting the benchmark and added impetus from grants and innovative lending solutions, Lendi detects a dramatic renaissance in how Australasians tackle their first foray into the property market.
Published:Sunday, 24th Mar 2024
Source: Paige Estritori
| Tax Tension: Australians Grapple with Surging Income Levies as Inflation Undermines Earnings 26 Apr 2024: .Paige Estritori Amidst soaring living expenses and aggressive interest rate increases to quell inflation, Australians face an additional financial burden as income tax impositions outpace those in other affluent nations. This echelon of fiscal pressure is compounded by the unfortunate fact that their earnings are making a retreat in real value terms. - read more |
| Avoid Hefty Fines: Key ATO Dates to Remember 23 Apr 2024: .Paige Estritori Australians are being cautioned about the possibility of incurring a $313 penalty if they fail to observe two critical Australian Taxation Office (ATO) deadlines looming ahead. As tax season approaches, individuals must take note of these important dates to avoid fines. - read more |
| Inflation Outlook Brightens as Australia Braces for Key CPI Update 22 Apr 2024: .Paige Estritori A crucial announcement regarding consumer prices is forthcoming as the Reserve Bank of Australia (RBA) anxiously waits to steer its future monetary policy decisions. Analysts and economy watchers alike have their eyes locked onto the publication of first-quarter consumer price index (CPI) data from the Australian Bureau of Statistics, set to impact the nation's economic direction. - read more |
| Alarming Rise in Australian Student Loans Calls for Immediate Action 19 Apr 2024: .Paige Estritori A fresh analysis has sparked concern over the surging levels of student debt in Australia, invigorating discussions for policy revisions in the impending national budget. Projections denote that during the initial tenure of the incumbent Labor administration, the cumulative student debt may swell by an extraordinary $12.3 billion, marking a 16% escalation. This upward trend raises alarms for prospective and current students grappling with the financial barriers of higher education, and ignites a dialogue on the urgency of governmental intervention. - read more |
| How to Improve Your Credit Score Before Applying for a Motorcycle Loan A credit score is a numerical representation of an individual's creditworthiness based on their financial history, payment habits, and level of existing debt. It plays a crucial role in determining loan eligibility and interest rates for various financing options, including motorcycle loans. - read more
|
| The Top 5 Motorcycles for Women Who Love Speed Riding a motorcycle is an exhilarating experience, especially for female motorcycle enthusiasts who enjoy the thrill of speed. However, choosing the right motorcycle for speed is crucial to ensure a safe yet thrilling ride. - read more
|
| Tips for Negotiating Favorable Motorcycle Loan Terms in Australia When it comes to purchasing a new motorcycle, securing favorable loan terms is essential for a smooth and affordable financial transaction. Negotiating motorcycle loan terms allows you to have better control over interest rates, loan duration, and repayment conditions, ultimately ensuring that you secure the best possible deal. - read more
|
| Why Women are Choosing Motorcycles over Cars for Commuting In recent years, there has been a significant increase in the number of female motorcycle riders in Australia. According to the Australian Bureau of Statistics, the number of female motorcycle riders has increased by 20% in the last 5 years. This trend is not unique to Australia, as other countries are also seeing an increase in female ridership. - read more
|