SO WHO ACTUALLY OWNS ALL THE INVESTMENT PROPERTIES?

How many Australians actually own investment properties?

You’d be forgiven for thinking everyone and their barista owns an investment property these days. The headlines are loud, the commentary louder — tax reform, rent stress, politicians throwing shade — but the reality is much quieter than the rhetoric.

So let’s skip the opinions and just look at the data. Because once you do, the story of property investment in Australia becomes a lot clearer — and a lot less dramatic.

Just the Numbers

• Australia has around 9.7 million residential properties.

• Of those, only 2 million are investment-owned.

• In plain terms, four out of five households don’t own an investment property.

That’s already a narrative-buster. Despite the noise, the investor class isn’t the dominant force it’s often made out to be — they’re a minority.

Who Are the Investors?

The investor demographic is older and wealthier than the general population — but not entirely so.

Here’s the breakdown by income bracket:

• 36% of investor households are in the highest 20% of income earners

• But 15% of them are in the lowest 20%

• The rest are distributed fairly evenly across the middle

And by age:

• The largest share (25%) are aged 55 to 64

• 23% are in their 40s and early 50s

• 22% are aged 35 to 44

• Just 13% are under 34

In other words, most investors are closer to retirement than they are to their first job. Property investment remains something people tend to grow into, not start with.

What Are They Buying — and How Much?

Most investment properties sit in modest price brackets:

• 28% are valued between $250k–$500k

• 24% between $500k–$750k

• Only 8% tip over the $2 million mark

As for how many properties they own:

• 68% of investors own just one

• 20% own two

• 8% hold three

• Only 4% own four or more

So the image of the multi-property mogul? That’s a very slim slice of the pie — just 87,000 households nationwide.

The Real Twist? Vacancy.

Here’s where the data gets uncomfortable:

Roughly 580,000 investment properties are sitting vacant.

That’s over 40% of the total investor pool. Not under construction. Not mid-reno. Just not being lived in.

In a market screaming for rental supply, that’s a huge missed opportunity. Imagine if even half of those were made available to tenants — the pressure valve would shift instantly.

It raises the question: is it time we looked harder at vacancy taxes or incentives for bringing these properties back into circulation?

What It All Means

Forget the noise. Ignore the hysteria. If you want to understand the Australian property market — whether you’re buying, selling, investing or just staying curious — start with the numbers.

They’re more honest than any hot take.

At Ethel + Florence, we don’t deal in drama. Just clarity, guidance, and a deep understanding of the real dynamics at play.