The right apartment still a good stepping stone to property wealth
The price difference between houses and apartments has reached record levels, but units are still an important stepping stone on the property ownership journey.
The price difference between houses and apartments hit a record 45.2 per cent this year, but we shouldn’t relegate the role of apartments within the property investment journey.
Unless they have a significant income or are relying on the Bank of Mum and Dad, first-time buyers typically can’t afford a house in a quality metropolitan suburb.
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Richard Wakelin is a founder of buyers' agent Wakelin Property Advisory.
