Latest news with #OpenCorp
News.com.au
20 hours ago
- Business
- News.com.au
How rentvesting helped this couple build real wealth
Smart buyers aren't choosing between super and property, and this Melbourne couple proves the most successful investors aren't picking between super and property, they're doing both. And Rob Bright and Siobhan Freeman are living proof. The Melbourne couple, who rent in Hampton but own in booming Ripley, Queensland, say they've already seen the pay-off of thinking differently, and they're not done yet. Buyers eyeing forgotten Melb Woolies store 'We live in Hampton and own in Ripley in South East Queensland,' they said. 'We bought in Ripley as a rentvestment in March 2021 and have lived in Hampton the whole time.' According to PropTrack data, Ripley house prices have jumped from $320,000 to $749,900 over the past decade, an average annual increase of 8.9 per cent, beating the 5.7 per cent average return delivered by Australia's top-performing super funds in the same period, according to SuperRatings. And with Melbourne's market rebounding, the couple said they could now be eyeing suburbs like Cobblebank, 11 per cent, Weir Views, 10.9 per cent, Aintree, 10.4 per cent, and Mickleham 9.9 per cent for their next investment. 'We definitely feel the market has changed and we are eager to get back in,' they said. For the couple, the strategy has always been about flexibility and smart planning, not chasing the status quo. 'Rentvesting was always part of our plan. It works for us.' OpenCorp chief executive Cam McLellan said the most successful investors weren't choosing between superannuation and property they were combining both. 'You don't have to choose super or property. Smart investors are doing both,' Mr McLellan said. 'That's how you future-proof, multiple levers working together.' Mr McLellan added that many buyers underestimated the leverage and tax benefits of owning strategically, especially in growth corridors. For Rob and Siobhan, the focus is on what works, not what looks good on paper. 'We've just found that rentvesting gives us the best of both worlds,' they said. 'We love where we live, and we're building equity somewhere with strong returns.'
News.com.au
13-06-2025
- Business
- News.com.au
Melbourne suburbs where units save buyers over $1m
Homebuyers can save more than $1m to secure a home in some of Melbourne's most exclusive suburbs if they're willing to give up a backyard. A growing number of buyers are ditching the dream of buying a house to stay in the postcodes they love, with new data revealing just how wide the gap between units and houses has become in these hot spots. New Ray White analysis shows units remain relatively affordable in several of Melbourne's most expensive suburbs, with house to unit median price gaps up to $1.1m in areas such as Hawthorn and Brighton. OpenCorp chief executive Cam McLellan said buyers were becoming more strategic, particularly in high-demand suburbs such as Richmond, East Melbourne and St Kilda East. 'In suburbs like Richmond, Hawthorn and St Kilda East, buyers can save more than $1m by choosing a unit over a house,' Mr McLellan said. 'Stretching for a house only makes sense if it doesn't lead to mortgage stress or missing out on better long-term growth.' But while many buyers were choosing rentvesting as a property strategy and buying a house in an outer suburb while enjoying their inner city lifestyle, they could be better off in the long term purchasing a quality unit, Mr McLellan said. 'Rentvesting gives people lifestyle now and financial security later,' he said. 'It's not about the product, it's about whether the numbers stack up. 'We run detailed cashflow and growth modelling because a quality unit in a proven suburb often outperforms a low-grade house on the fringe.' Ni Advocacy director and buyers' advocate Kevin Ni said the rise in unit interest wasn't just driven by price, it was also about value and livability, especially in older-style buildings. 'We're seeing people avoid the off-the-plan high-rises and instead go for character-filled, boutique blocks with more space and better capital growth,' Mr Ni said. 'Those older-style two-bed units often have bigger living areas, thicker walls, and a stronger owner-occupier presence — which can really help long-term value.' Suburbs like Elwood, Malvern East, Hawthorn, Kew, and Armadale are among those older apartments in low-rise blocks, which can be larger, more open, are in demand, he said. Mr Ni said the house-versus-unit trade-off had become more pronounced in recent years, particularly for young couples determined to live near the city. 'They're prepared to compromise on space to get into locations like Richmond or Hawthorn,' he said. 'For $750,000, you can still buy a two-bedroom apartment in a boutique block near cafes, parks and transport, and buyers are prioritising that.' The Ni Advocacy director said many buyers were now actively avoiding high-rise developments, instead focusing on older-style or boutique blocks with better layouts, more space and long-term value. 'Buyers are far more educated now – they're looking for scarcity and liveability, not cookie-cutter apartments in oversupplied towers,' Mr Ni said. In growth areas such as Doveton, Melton and Hampton Park East, where the house-unit price gap is under $120,000, Mr Ni said some were opting to stretch their budget to secure a house, often with help from parents. 'We've seen people spend six months stuck in limbo because they wouldn't budge on their dream suburb,' he said. 'The advice is be realistic and flexible. Compromise is part of the process now.' Ray White chief economist Nerida Conisbee said the appeal of units was only set to grow, particularly as houses in blue-chip postcodes remained out of reach especially for first-home buyers. 'People have been priced out of houses in suburbs like Hawthorn for a long time, but units remain accessible,' Ms Conisbee said. 'It's a trade-off: do I want a big backyard, or am I happy with a smaller home in a better location?' Ms Conisbee said Australia was undergoing a slow cultural shift, from suburban sprawl to inner-city density, but was still coming to terms with the change. 'We still love the idea of having a big house and a lot of land,' she said. 'The reality is household sizes are shrinking and it's much cheaper from an infrastructure perspective to increase density. 'That means more people will need to embrace apartment living, especially if they want to stay in high-demand suburbs.' Ms Conisbee said rising construction costs was helping to improve values for quality units. 'It's becoming harder and more expensive to build new apartments, which is why quality units in desirable locations are actually holding their value, or even outperforming.' Top 10 Melbourne suburbs with the largest house to unit price gaps: Suburb Median House Price Median Unit Price Price Gap Toorak $3,994,669 $1,049,771 $2,944,898 East Melbourne $3,203,726 $875,926 $2,327,800 South Yarra $3,060,336 $833,997 $2,226,339 Brighton $3,123,574 $1,194,140 $1,929,434 Hawthorn $2,488,921 $565,103 $1,923,818 Armadale $2,639,241 $737,493 $1,901,748 Malvern $2,609,420 $726,665 $1,882,755 Kew $2,806,515 $928,098 $1,878,417 Camberwell $2,716,661 $1,005,789 $1,710,872 Albert Park $2,651,151 $961,470 $1,689,681 Source: Ray White Top 10 Melbourne suburbs with the smallest house to unit price gaps: Suburb House Price ($) Unit Price ($) Gap ($) Doveton $574,931 $486,204 $88,727 Melton $523,513 $427,548 $95,965 Melton South $527,685 $427,391 $100,294 Brookfield $564,721 $452,631 $112,090 Kurunjang $556,402 $443,254 $113,148 Hampton Park $622,315 $496,640 $125,675 Sunshine North $704,905 $576,338 $128,567 St Albans $685,020 $551,191 $133,829 Wyndham Vale $639,501 $501,095 $138,406 Harkness $598,723 $454,703 $144,020
