Can you believe one in five Australians own an investment property? Well, that is certainly the case according to ING DIRECT’s latest Financial Wellbeing Index with Generation Y leading the pack.
Despite stiffened investor lending and signs that the property market is slowing, investor demand has continued to grow with the number of Australians investing in property growing by three per cent since mid-2015.
WA and NSW have the percentage of residents with at least one investment property (22% each), both growing year on year by four per cent.
WA has also taken the crown from NSW and Victoria in terms of those with multiple investment properties more than doubling in the past year from four per cent to nine per cent.
The only state where appetite for investment property has dampened is South Australia, in which approximately one in every 10 (11%) people owns an investment property, down from 15 per cent in 2015.
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