If you needed any more more proof that many people have been buying investment property for income, not necessarily capital gains, this chart below from Craigs shows the reason clearly.
To get a pretty modest retirement income of $40,000 per annum in 2007 you needed to put $475,000 on term deposit with your bank.
In 2021 you need to have $5,000,000 (5 million) dollars on term deposit to earn the same $40,000 per annum.
No wonder people have been buying property!
#assuredproperty #housing #rentals #propertyinvestment