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From Occupier to Owner: Tenants bid to buy the property they rent
Manage episode 430469038 series 2921058
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With Melbourne property prices remaining subdued, the gap between rental costs and mortgage repayments has narrowed, which means first-time buyers, particularly renters, are finding homeownership more attractive and attainable.
This shift is leading to an unusual trend: renters are increasingly able to purchase their rented properties from their rental providers.
Historically, while common to express interest, such transactions rarely materialised. Now, we're observing a shift where these intentions are frequently turning into successful property purchases.
Jarrod is joined by Wakelin's property management expert and buyers' agent, Jordan Telfer, to explore this trend.
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