A Shift in the Great Australian Dream

With the price of housing escalating over the past few years, the trend for first home buyers is to buy a smaller property.

Apartments and units represent an affordable alternative and it’s the preferred option for generation Y. Baby boomers downsizing are also attracted to the lifestyle that apartments and units offer, which is easy access to cafes, restaurants and other forms of entertainment.

A question I am often asked is: What’s a better investment an apartment or a house? The answer can be both yes and no. It depends on the financial situation and circumstances of each individual.

Most people believe that houses are a better investment because of the land component. This can be very true particularly if the land is large enough and the zoning allows further subdivision and development. It is also true however that as a growing number of people are choosing to live closer to the CBD, property values of apartments in these areas are also performing well.

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