Australians can now invest in a house in Brunswick West from $99 with Brickx.
CEO Anthony Millet expects this latest offering in Melbourne to be popular with investors further adding to the current Melbourne portfolio of Prahran and Port Melbourne.
“We’re thrilled to provide access to such a stunningly transformed terrace at an affordable entry price of just under $100,” Mr Millet said.
“With the initial Brick price being $99, Brickx continues to strive to make property investment affordable for all Australians.”
Brickx could almost be considered a type of crowdfunding/shareholding for residential real estate where properties purchased by Brickx 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 they owned. Brickx then enables members to choose when to invest and when to exit their investments by offering their ‘Bricks’ for sale on the Brickx Platform.
The three bedroom, two bathroom terrace with an undercover carport on Shamrock Street boasts a courtyard along with a private rooftop garden off the master bedroom.
“Brunswick West offers exceptional living right on the edge of the city. It’s close to public transport as well as cafes and restaurants,” Mr Millet added.
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, university and social precincts.
CoreLogic figures show house prices in Brunswick West have increased by almost 6.6 per cent per year over the past five years,” Mr Lawless said.
“Brunswick West has a strong rental market which has contributed to ongoing low vacancy rates and high demand. With convenient tram and train access to the CBD, the area is particularly popular with university students and young families.”
With properties already in Prahran and Port Melbourne in Melbourne and Manly, Potts Point, Surry Hills, Darlinghurst, Bondi Beach, Enmore, Mosman, Annandale and Double Bay in Sydney, members can easily access a variety of property investments.