How apartments can boost your portfolio to the next level

There’s no doubt that the current economy is causing a few dramatic shifts in behaviour for both renters and investors.

One of the biggest we’re seeing is the migration away from the suburbs back to the cities. While the pandemic saw a lot of people yearn for a big house with a big backyard, the reality of a petrol-guzzling commute to work and once-busy Sundays dedicated to mowing lawns and landscaping upkeep has resulted in renters moving away from conventional homes towards the luxury, comfort and lock-up-and-go convenience of apartment living.

A few statistics you may not have known:

As recorded in the 2021 census, about 1.3 million people now reside in apartments, an increase of 1.1% compared to 2016.*
Sydney leads the nation in high-density apartment living, housing nearly half of Australia’s high-rise population.**
About 45 per cent (247,506) of the people who live in high-rise flats reside in Greater Sydney, where there are nearly 120,000 apartments, or 32 per cent of the national total.

So what do investors love about apartments?

Read more about the benefits of apartment investing

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Affordability

With house prices soaring and the cost of living putting even more stress on the budget, the relative affordability of apartments – especially off-the-plan apartments-is a big attraction.

CoreLogic figures show that across Australia’s capital cities, the median apartment value in August 2021 was $617,805 – that’s $199,734 less than the median house value of $814,539 across Australia’s capital cities.***

Premium locations

Whilst apartments in highly-sought, premium locations come with a premium price tag, they are often far less expensive than houses in up-and-coming locations. Apartments in prime locations with facilities such as pools and gyms attract good quality tenants like bees to honey. You can offer prospective tenants the opportunity to live in an area where everything they desire including schools, shops, public transport as well as sporting and cultural activities are quite literally on their doorstep.

Renters are in need

Rental demands are outweighing supply in every single Australian city, the competition for quality rental accommodation is at an all-time high, placing investors in a prime position to help support current Australian housing needs whilst preparing for the shortly arriving overseas visitors, Immigrants and students also in need of housing.

Ironfish ‘iron-clad’ property checklist

Ironfish has many e-books, property reports and capital city reviews for investors looking to boost their portfolios by investing in apartments. When you partner with us, you’ll have access to our strict property selection and reap the benefit of our strict property selection criteria when it comes identifing high quality apartments with strong long-term investment and capital gain potential.

Here’s our top 10 ‘must haves’: