CEO Anthony Millet is pleased to offer investors continuing diversity and an alternative to the Sydney and Melbourne property markets.
“We are thrilled to be expanding into Adelaide; our third capital city since launching in September 2016 and our 14th property,” Mr Millet said.
BRICKX properties are each put into an individual trust and split into 10,000 units or “Bricks”. Investors may then earn capital returns and monthly net rental income in proportion to the number of Bricks owned.
BRICKX enables members to choose when to invest and when to exit their investments by offering their Bricks for sale on the Platform, making them available for other investors to purchase.
The two bedroom, two bathroom contemporary sandstone-fronted house with parking, features an outdoor pavilion which extends from the open plan kitchen – designed for alfresco entertaining.
“St Peters is one of Adelaide’s most desirable suburbs and this home, in beautiful tree-lined Third Avenue, offers convenient living just three kilometres from the city,” Mr Millet added.
CoreLogic figures show house prices in St Peters have increased by 8.8% per annum over the past 20 years.
CoreLogic Head of Research Tim Lawless, who also sits on the BRICKX Adviser Panel, says there is strong demand for property close to the city, schools and social precincts.
“St Peters has a strong rental market which has contributed to ongoing low vacancy rates and high demand. This affluent area is particularly popular with couples and families,” Mr Lawless said.
BRICKX now has over 6,500 active members with the median sale time of Bricks sitting at around 12 hours.
With properties already in suburbs such as Brunswick West, Prahran and Port Melbourne in Melbourne and Balmain, Manly and Bondi Beach in Sydney, members can easily access a variety of property investments – many from under $100.