Latest news with #AlanaKensley
Daily Mail
4 days ago
- Business
- Daily Mail
At four-years-old, Willoughby is Australia's youngest landlord. Here's why her parents bought her a unit
A preschooler has become the new owner of a $1million apartment after her parents decided to give her a head-start in Sydney 's brutal property market. Mark and Alana Kensley purchased the property for their daughter, a one-bedroom unit in a ritzy Willoughby development on Sydney's north shore, earlier this year. The couple wanted to support their daughter, also named Willoughby, in getting a foot on the property ladder before she's even started school. 'The market is incredibly tough right now - especially for younger generations,' Mr Kensley told Domain. 'Property prices continue to outpace wage growth, and we just didn't want our daughter facing that same uphill battle in 20 years.' The couple plan to rent the property out until their daughter celebrates her 18th birthday, at which point they will transfer it into her name. They opted for a garden-level apartment in the Willoughby Grounds development, where one-bedroom units start about $1million. Median rent in the area is about $750 a week. Her parents hope she will live in the apartment while studying or rent it out to fund an overseas trip. Purchasing the property, located on Willoughby Road, was a full-circle moment for the couple who named their daughter after the suburb where they once lived. Both said they would not have considered making the investment in the past, when home ownership was more accessible. Though Willoughby is still coming to grips with the acquisition, her parents claim she has begun telling her friends she is a homeowner. Last year, the average first home buyer in Sydney and Melbourne was in their mid 30s, according to Digital Data Analytics. This is about a decade older than the average entrant for both cities in 2004. However, the Kensleys aren't alone in bucking the trend. Recently, eight-year-old Ruby McLellan pooled her hard-earned pocket money with her two siblings to help fund the purchase of a four-bedroom home in Victoria. The trio managed to raise $6,000 towards the deposit, with the rest contributed by their parents. They purchased the $670,000 home in Clyde, Victoria three years ago and, within two years, it was worth nearly $1million. Other families have found less extreme ways to assist their youngest members to buy homes. A recent survey commissioned by real estate agency LJ Hooker found up to 82 per cent of Aussie parents were open to helping their kids buy a property. LJ Hooker research group head Mathew Tiller said parents wanted their kids to enjoy the same financial security they felt as property owners. 'There are many ways they can go about this, from giving them a cash gift, acting as a co-guarantor, or even letting them stay at the family home rent-free until they have saved a deposit,' he said.
News.com.au
20-07-2025
- Business
- News.com.au
Aussie parents buy four-year-old her own $1m property
A four-year-old girl is the lucky owner of a $1m property and she may have just taken the cake for the youngest Aussie homeowner. As many Aussies struggle to become homeowners across the country, at just four years old, Willoughby won't have that same worry. Her parents, Mark Kensley and his wife Alana, decided to make the decision to not 'kick the can down the road,' and buy a home for their daughter now, rather than wait another 16 or so years to help her do it. 'She's already started telling people she has her own house,' he said. 'We've told her about (the property) and we will remind her every year …. but at four-and-a-half years old, it kind of goes in one ear and out the other.' The property the Sydney parents purchased for their daughter was a circa $1 million one-bedroom unit in the new Willoughby Grounds development. The home is in Willoughby, on Willoughby St for their daughter Willoughby – so the couple took it as a sign. 'I'm a sentimental person,' Mr Kensley said. 'We used to live in Willoughby, we fell pregnant when we were there so we named her after the suburb we lived in … I wanted to buy something that my daughter might appreciate one day, with her namesake.' Mr and Ms Kensley aren't the only ones taking this approach - parents all over the nation are forking out more money than ever before to help their kids to get a foot on the property ladder. Research by Mozo Money showed that almost 75 per cent of those don't expect anything in return and they were gifting on average $74,000. Mr Kensley said although legally the property wasn't currently in Willoughby's name, it was very much hers and as soon as she turned 18 she could do what she wanted with it. 'Live in it while she goes to university, sell it to pay for something else – who knows what, but it will be available for her to choose.' For now, it would be an investment and after living in the suburb for many years, Mr Kensley had confidence it would always have a secure tenant and hopefully pay for itself. 'It's a good development, it's quality and a great location. The bus stop is across the road, for city workers who want that convenience,' he said. 'We also have a pet cavoodle so we plan to make it pet friendly for the tenants.' Ray White's director of projects and developments Tim Abott said it was becoming commonplace for parents to do this. 'We're seeing more and more parents look to get ahead of the market — not just helping their kids into a first home, but in some cases, assisting them before they're ready,' he said. 'Willoughby Grounds has struck a particular chord with buyers. We've had people return to the suburb after years away, or in Mark's case, purchase for a child named after the area.'
Daily Telegraph
20-07-2025
- Business
- Daily Telegraph
Aussie parents buy four-year-old her own $1m property
A four-year-old girl is the lucky owner of a $1m property and she may have just taken the cake for the youngest Aussie homeowner. As many Aussies struggle to become homeowners across the country, at just four years old, Willoughby won't have that same worry. Her parents, Mark Kensley and his wife Alana, decided to make the decision to not 'kick the can down the road,' and buy a home for their daughter now, rather than wait another 16 or so years to help her do it. 'She's already started telling people she has her own house,' he said. 'We've told her about (the property) and we will remind her every year …. but at four-and-a-half years old, it kind of goes in one ear and out the other.' MORE:Aussie tenant slugged with $520k bill MORE: $10m blow for pub baron after mum's house seized The property the Sydney parents purchased for their daughter was a circa $1 million one-bedroom unit in the new Willoughby Grounds development. The home is in Willoughby, on Willoughby St for their daughter Willoughby – so the couple took it as a sign. 'I'm a sentimental person,' Mr Kensley said. 'We used to live in Willoughby, we fell pregnant when we were there so we named her after the suburb we lived in … I wanted to buy something that my daughter might appreciate one day, with her namesake.' Mr and Ms Kensley aren't the only ones taking this approach – parents all over the nation are forking out more money than ever before to help their kids to get a foot on the property ladder. Research by Mozo Money showed that almost 75 per cent of those don't expect anything in return and they were gifting on average $74,000. Mr Kensley said although legally the property wasn't currently in Willoughby's name, it was very much hers and as soon as she turned 18 she could do what she wanted with it. 'Live in it while she goes to university, sell it to pay for something else – who knows what, but it will be available for her to choose.' For now, it would be an investment and after living in the suburb for many years, Mr Kensley had confidence it would always have a secure tenant and hopefully pay for itself. 'It's a good development, it's quality and a great location. The bus stop is across the road, for city workers who want that convenience,' he said. 'We also have a pet cavoodle so we plan to make it pet friendly for the tenants.' Ray White's director of projects and developments Tim Abott said it was becoming commonplace for parents to do this. 'We're seeing more and more parents look to get ahead of the market — not just helping their kids into a first home, but in some cases, assisting them before they're ready,' he said. 'Willoughby Grounds has struck a particular chord with buyers. We've had people return to the suburb after years away, or in Mark's case, purchase for a child named after the area.' MORE: Horror state of Aus' share houses exposed Aus suburbs where homes sell fastest – and slowest 'Just wanted to play': Mining bid stirs asbestos grief
