http://smh.com.au/articles/2004/03/16/1079199227684.html
Seems that old statistic of how few people own RE can be put to rest. Now *everyone* owns property! Vive le boom! [upsidedown]
kay henry
Intersting to note (have seen this stat elsewhere), that the vast majority of property investors own only 1 IP.
Not really an retirement/lifestlye changing nest egg though.
James
Last night tv show also talk about investing in property where one can’t not afford ip then they go partner to buy ip.
risk and reward are come into play here!
Kind regards
Chan Dollars
[Retire Young, Retire Rich] [strum]georgis,
The stat that a lot of people use about “only 5% of IP owners own 2 or more properties” etc is a really old one from census data of 1991 or something. I think it’s time to update that, particularly given the property boom.
Actually, I am not sure the census collects data about how many IP’s people own these days.
kay henry
Hey Kay,
i do know the results off the top of my head.
92% of people who own property only own 1
8% of people who do own property own 2
5% of people who do own property own 3
2% of people who do own property own 5
and only .02% (which is a very very tiny figure) own more than 11+ properties.Cheers,
sisDoes that mean 107.02% of people who own property own an IP?
James[wink]
Hi Georgisj,
Does that mean 107.02% of people who own property own an IP?
nah what it means, is that there is a 100% of people who own property, but as you break down the individuals, the ones who continue to have properties in the smaller percentages, are also part of the earlier percentages of higher percents that own property in that selected property number…
… lol no confusion, but maybe i should write it from bottom to top. [cigar]
Cheers,
sisThanks mr sis! ;O) Yeah, that’s the stat I was referring to, but I think it creates a sense of false consciousness in 2004. I believe that many more % of property investors than 8% of all property investors own 2 IP’s. That stat has been used for years by people to sell books and make out that if you own 2 IP’s you are in the elite. Not so in 2004.
kay henry
so guys…..
what percent is steve in ? [blink]
Cheers,
siswhat about that other guy in Sydney, who owns the most property in australia and i think on last count he was on 1200 properties and the most owned properties in qld was by another man who owned just over 900, but i do know there is a guy in America who owns over 5000 properties…..
these guys must be in the top
0.000000000000000000000000000000000000000000000000000000001% [rambo2]
Cheers,
sisWhy do people constantly refer to (owning) IP,s.We all Know who owns them.The BANK.Until such time as they are paid off that is.Maybe they feel richer by using the word OWNING.[angry2]
Russ.
Hi all,
For some other stats.
http://www.theaustralian.news.com.au/common/story_page/0,5744,8987594%5E25658,00.html
Don’t know if the stories are similar – I am in a rush [biggrin]
Derek
SIS said
“what about that other guy in Sydney, who owns the most property in australia and i think on last count he was on 1200 properties and the most owned properties in qld was by another man who owned just over 900, but i do know there is a guy in America who owns over 5000 properties…..”Anyone have any details about these people. I would love to know how they started and what their strategy was eg. Buy, renovate, hold. or build, build, build or positive geared only or property developers.
The only ones I am aware of is the Triguboff or something like that who is an apartments developer. Just goes to show there is more money in building apartments than actually buying them off the plan.
Russ,
The bank may technically own them, but you get the capital gain…Which is what you are ultimately after!!James
Just wait 2 years and take a look at the stats then.
This will be after the new property investors have had a gut full of bad tenants, the hassles of the paper work, the allure of a shiny new car or any other doodad that takes their fancy and simply no real capital gain which most will be banking on and possibly -ve growth.
They simply don’t last the distance. I am sure that if you looked at the stats after every boom you would see a change which then settles own again.
Cheers
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