BrickX is launching one of the first Perth property at $82/’Brick’
BrickX is breaking down barriers to residential property investment by allowing Australians to purchase fractions of property, or “Bricks’, now across 19 properties in Australia with their new Perth launch.
Rapidly growing fintech, BrickX, is now giving Australians direct access to the Perth residential property market for less than $100 in a process that takes less than five minutes.
Founded in 2014, BrickX has $18.7 million in assets under management from more than 12,900 members. The funds are invested in 18 other properties across New South Wales, Victoria and South Australia. Founder Markus Kahlbetzer said BrickX is now targeting Perth as the firm believes it represents value for investors and allows them to further diversify across the Australian property market.
“It’s no secret that the Perth property market has been slow over the last four years, however our property team* believes that the Perth house market is approaching the bottom of the property cycle,” said Mr Kahlbetzer.
Property team member and Chief Economist for REA Group, Nerida Conisbee said the inner and beachside suburbs of Perth are “leading the charge” when it comes to the early stages of recovery.
“We are currently seeing growth in rental demand from Perth on realestate.com.au, likely driven by jobs growth. While the Perth market has been tough, this uptick reflects a positive change for the housing market and it is likely we will see recovery in the market over the next two years,” Ms Conisbee said.
Affordability Index by Performance Property Advisory, Perth properties are the most affordable they have been since 2002 with only 24% of the average income required to pay off the average mortgage.
The available property is a beautiful 3-bedroom, 2-bathroom character home in scenic Kensington of South Perth. Kensington’s recent performance has been promising, being one of the top 7 high growth suburbs in WA of 2018 (REIWA).
BrickX has an accomplished Property Team consisting of an experienced buyers and Advisory Panel including Tim Lawless, Head of Research at CoreLogic Asia Pacific, Nerida Conisbee, Chief Economist for REA Group and David McMillan, member of the PIPA Board.
Editor, Online Marketplaces, 27 February 2019