Proptech News: Millennials turn to the stock market to fund their property investments and apartment complexes get smart
In this week’s proptech news we learn that millennials are looking to the stock market to build their wealth and that apartment blocks are getting smarter with the introduction of smart home services.
Millennial’s investing in stock market to build wealth
Young Australians are now taking part in the big stock market game. It’s believed that they’re doing so as a way to get onto the property ladder as, without capital it’s hard to do - but stocks might well be their ticket.
Surprisingly, 30% of active CommSec accounts are owned by millennials, according to AAP, totalling 70,000 trades each month.
Property prices are high, which makes it hard for millennials to save enough for a house and, therefore, turning to the stock market might help them grow their funds. Managing Director for CommSec, Paul Rayson seems to agree, “‘the share market can be a way to build savings and wealth over the longer term”.
Blue-chip stocks seem to be a popular investment amongst young people. It’s a low-interest rate environment and earnings can be 4-5% in returns. It’s a safe way to enter the stock market, however, some millennials are eager to take bigger risks with a higher potential growth in mind.
Technology is an everyday deal for millennials in today’s society, so it’s no surprise that Millennials account for almost 50% of all mobile trades made through the CommSec app. According to Mr Rayson, this is an area in their life they can take control of their finances.
Smart home services are expanding into entire apartment complexes
Smart homes are in high demand amongst millennials. It’s estimated to be a very profitable industry making up to $58 billion by 2020, so it’s no surprise that companies have started looking at ways to tap into this; they’re now bringing smart home systems into entire apartment complex instead of only single-family houses. Turning properties into a smart home is good selling point for tech-savvy tenants but it also gives the property managers more control of hundreds of smart devices at once – saving them valuable time.
Smart home provider Vivint is already making devices such as smart locks and security cameras and providing a new service called Smart Properties. This lets property managers design their own smart home system. Property managers can now monitor and take care of any service requests from one centralised dashboard.
It’s an extremely exciting time for the property industry and smart homes are without a doubt the future, which will be help property managers to manage their properties more efficiently.