04 Feb Investment Advice From Michael Yardney
When it comes to property, following the mass media driven hysteria is NOT a good idea. As Yardley aptly quotes in this article, ‘look at what everyone else is doing…and do the opposite.’ Let’s break down the stats. The latest tax office stats indicate the only 16% of Australians own an investment property. Of these, approximately 2 million are property investors.
- 71% own just one investment property
- 19% own two properties
- 6% owned three properties
- 2% own four properties
- 1% own five properties,
- and 1% own six or more investment properties
So what we can deduce from this is that if you follow the trends, it’s unlikely you’ll succeed. As I’ve consistently maintained, ‘successful property investment is a long-term affair.’ Have a read of this great article that breaks down some of the reasons why you might be finding it difficult to crack the property market. If you have any questions about this feel free to give me a call!