Xpress Super announces direct property option
Xpress Super has announced it is launching a direct property option for SMSF trustees, according to a statement from the administration and investment company.
Olivia Long, Xpress Super’s chief executive officer, said trustees are looking for assets that are perceived to offer “reliable” income and long-term capital growth in light of recent uncertainty in equity markets.
“Direct property investment is an option that’s very popular with the self-directed investors as they understand the nature of direct property ownership,” said Ms Long.
“This is reflected in recent ATO figures that indicate direct property in SMSF is a growing asset sector, up from 10.7 per cent in June 2006 to 14.7 per cent as at March 2013,” she added.
“According to the ATO, property values grew over this period by 230 per cent to more than $73 billion – a higher growth rate than any other asset class.”
St George Bank and Macquarie Bank Lending Services have been selected to join Xpress Super’s lending panel for commercial and residential property, according to the announcement.
“We are pleased to partner with investment providers that are experts in their field… We are confident that our selected providers will ensure our clients meet strict compliance regime requirements for investing in SMSFs,” Ms Long said.