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NZ: Sales data shows it is cheaper to buy a small business than a home
Young people locked out of the housing market are being encouraged to save for their first business instead. Sales data from the small to medium-sized enterprise (SME) broker, ABC Business Sales, shows the average price of a small business is $653,000, compared with a house which is $725,000. It indicated the average annual return from a business was six times higher than that from a house, at $215,000 compared with $35,000. ABC managing director, Chris Small, said young people overlooked buying businesses because of the strong culture around home ownership in New Zealand.He acknowledged that owning a business was ... (full story)