
Worn out from years of being told to buy a house, Australians have now been told they need to get started on building a cabana portfolio at their nearest beach or risk being locked out for ever.
Sydney resident Sophie Bourke, who only just recently managed to buy a house after ten years of searching, said she was hoping for a break from looking for property. “I’ve literally just moved into my place and I thought I could finally relax. But now it turns out I have to spend my weekends trying to find a cabana spot. I suppose there will be open inspections and auctions for them too? It’s exhausting”.
Property advisor Rhys Tomlison said there were still good opportunities for Australians looking to get on the cabana ladder. “A lot of the best locations have already been snapped up, and people are finding they’re having to widen their search to locations further away from the ocean. But if you’re willing to put in a bit of work, there are still some great spots out there.
“My advice is to get in as soon as you can. Be realistic about your first cabana – it may not be your dream location. But once you’ve got a foothold in the market, you’ll be able to build equity in your spot, and then upgrade a later stage”.
He said most cabana spots have been snapped up by investors. “I have one client who has thirty-five cabana properties. He’s providing a community service really, because he’ll now be able to rent those spots out to other people, increasing access to the cabana market”.