Home Agents & Agencies BRICKX Signs Off 2017 With 6,000 Clients, 14 Properties and Westpac Investment

BRICKX Signs Off 2017 With 6,000 Clients, 14 Properties and Westpac Investment

BRICKX CEO Anthony Millet

We’ve been following BRICKX since they announced they were buying a property in South Australia earlier this year, but 2017 has been so much more than that for the Fintech (Financial Technology Startup).

BRICKX was a recipient to a whole list of awards for innovation (REA, CANSTAR, Talent Unleashed, Fintech Business), and an award for growth (Fintech Australia).

The company hopes to offer a property in every Australian capital city to offer larger diversity and exposure to the Australian market.


The BRICKX Dashboard

We spoke with CEO Anthony Millet about the investment from Westpac and what that would mean for this exciting technology.

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How might fractional property investment be a part of helping to solve the affordability crisis in Australia, from both a renting and home ownership perspective?

BRICKX is providing incremental access to the property market which is otherwise only possible via buying an entire property.

By allowing investors to save in line with individual properties within individual capital cities (especially pertinent to home savers and parents saving on behalf of their children) they are now in a position whereby their deposit is exposed to the underlying asset class they aspire to and should perform with it.

Over the last five years, you have seen +80% price movements in Sydney and Melbourne. Understandably there has been huge frustration with those saving for a house – no matter how hard they save, their deposit can’t keep up. We hope to make this a thing of the past.

Could you describe the benefits that would come from BrickX portfolio of $500,000 in BRICKX, compared to the same sized investment in a single home in Adelaide?

BRICKX allows you to invest in a hassle-free way, right from your couch. The process is simple and can be done in a matter of minutes (without attending numerous open houses, suffering the disappointment at losing out at auction etc).

The Third Avenue, St Peters home purchased by BRICKX

In addition to being able to easily invest, you can spread your risk across a number of different properties, diversifying across various capital cities with the choice of houses and units, leverage and no leverage.

The other great benefit is when the time comes that you wish to realise some of your investment, you can sell just part of your investment rather than all the Bricks you own if required (by listing your Bricks for sale).

This flexibility, simplicity and empowerment to the investor is a whole different way of experiencing and getting the benefits of property investing compared to the traditional route.

How do tenants benefit when renting a property in a BRICKX portfolio?

Tenants often get a raw deal, with unexpected evictions, poor property management and inconsistency around what is and isn’t allowed. BRICKX aims to give tenants of BRICKX properties a high quality and predictable experience.

This includes responsive professional property management and certainty of no random evictions. The properties on BRICKX are held for perpetuity (with a vote for keeping on or selling at five years). In addition to BRICKX treating tenants well, we expect our tenants to look after the properties to a high standard and perform regular inspections to ensure this is the case.

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