Global Power | Local Knowledge | Uniquely Personal

Sydney lawyer buys house for 5-year-old son

Property lawyer Dion Vertzayas bought a $710,000 apartment for his five-year-old son.

A lawyer from Sydney has bought a house for his five-year-old son to ensure that he has a foot on the property market ladder.

According to the Sydney Morning Herald, property lawyer Dion Vertzayas bought his son Dean an apartment for $710,000 in Points Potts.

Mr Vertzayas said that the property is an early birthday present for his son, who turns six next month. He felt that this was a necessary move to ensure that Dean is not priced out of the property market in the future.

Consumer demand for property in Sydney has been high in recent months as the lowering of interest rates from the Reserve Bank of Australia (RBA) has made home finance more affordable.

However, this has caused house prices to rise in the city as homeowners and investors scramble to buy up properties. As a result, industry experts have raised concerns that first home buyers might be being priced out of the market.

Posted by Steve Douglas

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact

Subscribe Now