BrickX In Housing Market Shake Up to Help Reclaim the Australian Dream
Fractional property investment platform BrickX has announced the launch of Smart Invest, a game-changer that aims to help Aussies build a home deposit sooner.
Currently the thought of owning a property is uncertain with 87 per cent of Aussies believing future generations will not be able to afford a home. In fact, 40 per cent believe they are more likely to win the lotto than own a home in the next ten years.
Hassle-free and automated, BrickX's Smart Invest looks to transform these beliefs by giving all Aussies access to the property market as a means to build a home deposit.
Building a home deposit is now perceived as one of the biggest barriers to buying a property. Smart Invest offers an affordable way to start this process, by giving many Aussies the opportunity to build their investment with the property market.
If you'd saved $500 a month and invested this in the residential property market, you could have built a $100,000 deposit in 10 years and 1 month. This is over 21 per cent faster than the returns from the average cash rate which would have taken 12 years and 7 months.
How it works
A specialist team of BrickX property analysts and specialists source properties and split their value across 10,000 'Bricks' for Aussies to buy and hold. As the property price changes, so will the value of the Bricks. This unique approach, called fractional property investment, means people can invest in residential properties picked for their growth potential by buying Bricks for as little as a few hundred dollars.
Smart Invest is the newest and easiest way to regularly invest into Bricks. All investors need to do is simply invest a set monthly amount (from $250) and BrickX will invest it into Bricks in properties they have specially picked for their growth potential. Investors can skip, cancel or change the set monthly amount. When the time comes, Brick Owners can list their Bricks for sale and use any funds as a deposit for a home.
Current state of play
The thought of entering the property market is clearly daunting with 50 per cent of Aussies stating that they feel anxious, nervous and stressed when thinking about it. In fact, reality has sunk in, as over 58 per cent of millennials believe their parents have not exaggerated the cost of getting onto the housing market .
Further to this, over 30 per cent of Aussies admitted they would move overseas to purchase property and 50 per cent would move states if it meant they could get on the property market sooner.
Anthony Millet, BrickX CEO says "These results prove that purchasing a home is still very much viewed as an important part of the Australian way of life and something we should all get to experience especially when many of us are working hard to pay the bills and save for a deposit.
"We've built a way to help those going down this path, so more Aussies can realise their dream.
"When it comes to solving the home ownership crisis, we know this is a bigger issue however, Smart Invest is a step in the right direction that offers people a chance to begin building a house deposit today" concluded Millet.
Investors who would prefer to have more control over how their properties are selected can use the 'Build My Own' option and pick their own portfolio based on their investment needs.
For further information about BrickX and Smart Invest, please visit www.brickx.com
Interview with Alex Clark and Emily O'Kane
Question: Do you believe that finding life of Mars is more likely than you owning your own home?
Alex Clark and Emily O'Kane: YES we absolutely do believe this. Feels this way when you live in a busy city like Sydney that's for sure!
Question: What advice do you have for young Australians hoping to own their own home?
Alex Clark and Emily O'Kane: Don't get overwhelmed! We have found the whole process quite daunting, until we were introduced to BrickX Smart Invest, they take all the hard work out of you and you can start off small.
Question: Do you ever feel guilty about purchasing avocados when saving for your first home?
Alex Clark and Emily O'Kane: Funnily enough, where we live in Australia we can get a bag of organic Avocados for under $5 so we never feel guilty about purchasing them! #supportinglocalproduce.
Question: How have BrickX and Smart Invest and helped you save for your first home?
Alex Clark and Emily O'Kane: It has helped us by providing an affordable way to build a home deposit. By setting aside a certain amount monthly, we know it is going to be invested in properties that will benefit us with their long-term through the returns. It is also such an easy and seamless process!
Interview by Brooke Hunter