Three young Aussie siblings have pooled their pocket money to break into the tough property market
With the help of their property investment guru father Cam McLellan, six-year-old Ruby, her brother Gus and sister Lucy have just managed to snap up their first home in Clyde in the city’s southeast.“My name is Ruby and I’m six years old and I’m about to buy my first house,” Ruby told the network of the home, which cost $671,000.“Financially they have each contributed $2000 and they have saved that up,” he said.The Melbourne siblings are breaking into the property market.
After he hit $250,000 in earnings after tax from renting out his many properties, he decided to enter early retirement. The McLellan siblings’ property milestone comes after new research by property analysis firm Hotspotting revealed real estate was getting even further out of reach for many first time buyers, after several suburbs saw their median property value soar by $200,000 by just three months.
North Bondi leapt from $3.31 to $3.58 million, and Gymea Bay and Kogarah, based in Sydney’s south rose by $200,000 to rest at the same final number, $1.62 million.
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