Obviously, the cost of housing in Australia has become a barrier for many young people who are seeking to buy their first home (that is, to get their metaphorical foot on the property ladder). Australia’s obsession with property permeates throughout society. Recent research shows that Australians spend an average of 2½ hours a week preoccupied with the property market. That’s more than double the amount of time they spend at the gym, and almost three times as long as they spend talking with their parents. Property is king. Consequently, in the last few years, fractional property investment has become a thing. That is, property market hopefuls can now buy a share of a single property at a fraction of the price. For example, BrickX allows you to buy so-called “bricks” which are equivalent to 1/10,000th of the value of the property (so $50 for a $500,000 home). At first glance, this sounds great being able to buy into a property for only $36 or whatever, but is there a catch? Is this really helping people get closer to their property dream?

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#australianproperty #housingmarket #fractionalownership