The majority of people investing in Australian property choose to buy apartments over houses, an expert has claimed.
Analyst Michael Matusik told AP Magazine that most investors in the market at the moment are between 34 and 54 years old and each holds an average of 1.5 residential investment properties.
"Buying residential property in Australia is big business," he explained to the magazine.
Mr Matusik said that three out of five investors borrow money in order to invest in houses or apartments in the country.
He also revealed that the majority of investors expect property values to double every ten years and for their gross rental yield to be more than five per cent.
Those aiming to buy new Australian property as an investment may be interested to hear that over $41 billion (£23 billion) was spent on the construction of residential property in the country during the second quarter of this year.
This is according to a recent report from the Australian Bureau of Statistics.
Posted by Steve Douglas
