A property-mad, negative-gearing nation
One in 10 Australian adults invests in property, according to recently released Australian Tax Office (ATO) statistics.
The same figures show that the number of people investing in real estate is growing — even though two thirds reported a loss to the tax man.
There were 1.77 million landlords in the 2010-11 tax year compared to 1.70 million the previous year.
Almost three-quarters of landlords owned or had an interest in only one rental property.
RentCover General Manager Sharon Fox-Slater said many investors were capable of owning more investment properties than they had.
“Property managers often overlook the prospect of increasing their rent roll by pointing that fact out to the landlords they serve,” she said. “These figures also emphasise the importance of top-class service to those landlords who do own more than one property as they are a rare breed.”
The RentCover Report also used Australian Bureau of Statistics population figures for 2011 in calculating some of the above figures.