28 January 2013 Mortgages made relatively easy


Buying real estate is becoming more of a family affair with estate agents reporting an increase in siblings co-financing mortgages.


Agents say brothers and sisters purchasing together now make up 10 per cent of traffic at open houses and inspections.

The trend, which has grown in the last three months, allows buyers to afford properties that would otherwise be beyond their reach on a single-income, agent Silvia Vitale of Laing + Simmons Potts Point said.

Ms Vitale said that siblings were buying mostly as an investment. "It's like running a small business,'' she said.

Oceanfront units at Cronulla, which sell for between $500,000 and $600,000, were popular among sibling investors, Highland Property Agents director David Highland said, adding: "It gives people an opportunity to buy into a desirable coastal suburb that they wouldn't otherwise be able to afford.''

Reproduced in part with permission: News Limited Network Mortgages made relatively easy 28 January 2013

Attention: This article is intended to provide general information only. Every attempt has been made to ensure the accuracy of this information at the date of publication. The opinions expressed in this article do not reflect those of DHA, its staff or agents. Property prices are subject to fluctuation. Prospective investors should seek independent advice. DHA will not be liable for any loss, damage, cost or expenses incurred or arising by reason of any person relying on information in this article.

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