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where a young person will buy an investment property before they buy their �irst home. They typically target a�fordable areas with good growth prospects, then rent a home for themselves where they want to live for lifestyle reasons (usually close to capital city CBDs and beaches). Over time, as their investment gains value, they can make new decisions and potentially buy a home using the equity that their investment delivers.
Women own more apartments than men, perhaps as they o�fer security due to their elevation, with most new buildings these days providing secure parking and video intercom entry to the building. Collated evidence �inds, women highly value security features. Secondly, apartments are more a�fordable.
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The report also highlights something very important for both men and women, and that is that owning property is a more e�fective way of growing your wealth over working. This is because growth in property values has been outstripping wage growth in Australia for two decades. Over the past 20 years, Australian dwelling values (that’s houses, and apartments combined) have increased by 140% while wages have increased by 81.5%. That’s something to think about.