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Good news for those interested in investing in property with BRICKX

There’s no denying the fact that it’s hard to get into the property market in Australia.

It’s expensive, most of the time you can only afford something less than impressive – aesthetically and fiscally – and the rental realities that face you once you do buy are fraught with hardships and learnings.

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That’s why the likes of factional real estate investment organisation, BRICKX, has turned the real estate industry on its head, offering investors the chance to break into the property market without biting off more than they can chew.

See more about BRICKX at their website, but in recent good news for the company, they recently secured investment from the Westpac-backed venture capital firm Reinventure, in its Series A funding round.

The Fintech, that provides access to residential property by enabling Australians to buy “Bricks” in individual property trusts, is not only tackling housing market accessibility but proving to be popular with those saving for a home deposit.

“We look forward to working with Reinventure, who are wholeheartedly aligned with the BRICKX vision in providing a product which addresses the growing problem of housing affordability and investment accessibility,” BRICKX CEO Anthony Millet said.

“Over the next 12 months BRICKX plans to expand into every Australian capital city which means we’ll be able to offer our investors, which includes first home savers, general investors and self-managed super fund trustees, continuing diversity and an alternative, accessible way to gain exposure to the property market.”

Founded in 2014, BRICKX launched to retail investors in September 2016 and in the last 14 months has grown to offer 14 properties across Sydney, Melbourne and Adelaide along with more than 7,500 members.

Reinventure Managing Director Danny Gilligan said the fund was attracted to BRICKX because it is reflective of the significant change the real estate industry is undergoing.

“BRICKX represents the first full stack solution to property purchasing, renting and financing in market,” Mr Gilligan said.

“There are multiple challenges in the property financing industry that fractional ownership with improved liquidity options has the potential to solve – from first home ownership to equity release.”

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