More than four out of every five investors in Sydney and Melbourne who purchased property since the start of the pandemic in February 2020 are negatively geared as a result of skyrocketing mortgage rates, according to PropTrack data provided to The Australian.
In Sydney, 87.5% of investment homes purchased since the beginning of the pandemic are operating with negative cashflow, whereas in Melbourne the figure is 83.3%.
Nationally, 66.4% of recent property investors are losing money.
“What we’re seeing since the pandemic is mortgage rates increase faster than rents, although rents have increased very quickly”, said senior economist Paul Ryan.
“The balance has shifted as we’ve come out of the pandemic and interest rates have increased”.
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