According to Ray White chief economist Nerida Conisbee, property investing’s role in supplying rental properties means tax incentives are in place.
“Consider if you bought in Sydney 10 years ago, you would be paying less on your mortgage now for a home that’s worth double than what you paid for it. If you rented, you would be paying $9,360 more per year for a home that you hold no equity in,” Ms Conisbee said.“Buying a first home is important, not just to get on the property ladder but also because being a renter at retirement means that you are much more likely to be living in poverty.
Ms Conisbee noted that, as opposed to Bitcoin, they were considered the most risk-free investments but brought in diminishing returns at 12.7 per cent in the data’s time frame.Hobart’s market was the second highest performing housing market in the country, rising by 220.7 per cent. Picture: ERA planning and environment
“Once purchased, the family home is a tax free asset in most of Australia. Buying a family home, instead of renting and investing in other asset classes can mean much less tax is paid over time.” “Holding a property for the long term is always the best strategy to build wealth. Even if you buy at the absolute peak of the market, keeping a property for a long time means that it barely matters.”
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