That’s a lot of lemonade money.
A girl from Melbourne, Australia, is buying her very first home — at the ripe age of six.
Ruby McLellan, along with her sister Lucy and her brother Gus, have saved money over the years — from house chores and helping their dad package his best-selling book — to buy their very own plot of land.
“My name is Ruby and I’m six years old and I’m about to buy my first house,” the savvy youngster told 7NEWS.
Their father, Cam McLellan, a property investment expert, revealed that each one of his children had saved up $2,000 to contribute to the land.
The partially built house and land, located in the suburb of Clyde in southeastern Melbourne, cost $671,000.
McLellan predicts the land value will double in 10 years.
Ruby and her siblings used allowance money — along with some cash from their dad’s book sales — to buy the partially built house. 7News“The price on that block has already gone up $70,000, so they’ve done well so far,” he explained to 7NEWS, adding that his children plan to sell up in the year 2032 and split the profits.
“It’s written for my kids to use when they’re old enough, so I’ve outlined all the steps it takes to build a property portfolio,” McLellan added.
Ruby’s father is a property-investment guru, and says the purchase should help his children get ahead in an already too-hot market. 7NewsAustralia’s booming real estate market has left many parents concerned their children will not be able to afford a home once they are grown.
An average house in the land down under costs nearly $1 million.
Melbourne’s house prices specifically have increased by 19.5% in the past year, with the median price now $953,000. Property values increased by an additional $8,000 over the month of November.
“If the Australian housing market does not slow down by mid-2022, APRA [Australian Prudential Regulation Authority] will keep intervening until it does,” Louis Christopher, the managing director of SQM Research, told Urban Developer. “We cannot afford another year of 20 percent plus gains across the national housing market.”
Data from the Commonwealth Bank of Australia found that one-quarter of Australians have considered joining together with parents, friends or siblings to buy into property together.






