Welcome to Real-Estate-and-Property
Australian Real Estate Article
This is a selection made from among articles on Australian Real Estate. For a permanent link to this article, or to bookmark it for future reading, click here.
The Australian Real Estate Market in 2006
from: Rhiannon WilliamsonAustralia has led the worldwide real estate boom and enjoyed
record price increases over the past three years, but as 2006
gets underway many fear that the recent success of the
Australian real estate market is not sustainable.
While the Australian housing market may well face a short period
of economic adjustment, there are still ways to profit from the
real estate sector in Australia. Real estate investors examining
the market just need to look a little further afield than Sydney!
Perth in Western Australia is one city where real estate prices
remain affordable and where demand for quality accommodation to
buy and rent is increasing which is creating an exciting micro
property investment market opportunity ripe for exploration in
2006.
The reason for Perth's sudden popularity from a real estate
perspective springs from the fact that the city is enjoying a
period of economic advancement led by a vast improvement in
employment prospects. Local residents in Perth are benefiting
from better paying employment and an abundance of opportunity,
and the city is attracting a steady flow of inward migration as
job seekers move to the city to take up offers of employment.
Historically Perth's real estate prices have lagged well behind
those of Sydney and Melbourne for example, and the average home
finance sought to purchase in Perth is around 30,000 Australian
dollars less than the average mortgage taken out elsewhere in
Australia. The lower priced accommodation is attracting more
interest from investors from across Australia as well who are
all seeking a housing market with legs left to run. Furthermore
the real estate sector in and around Perth is enjoying interest
from international real estate investors who can see the long
term prospects available.
As demand for accommodation in Perth increases as the city
welcomes new residents, so the prices being charged for rental
housing are on the up as well. Anyone who purchases real estate
to let out in Perth right now can cash in on this boom in rental
rate rises and retain their property while the predicted period
of property price growth develops.
Across the rest of Australia many first time home buyers have
been temporarily priced out of the housing market as property
prices have exceeded affordable levels. While the market
readjusts over the short term there are fears that a rental
accommodation crisis is looming in some of Australia's most
popular cities such as Brisbane and Sydney. This concern is of
course leading to sharp increases in rental rates being charged
by landlords who are well aware of how valuable a commodity they
own.
While this is an unfortunate situation for those caught in the
rental trap it is a perfect situation for an investor seeking
immediate returns on real estate investments in Australia.
Anyone who makes a real estate investment purchase in Australia
with the intention to let out that property will not only make a
strong income currently but they will continue to enjoy property
price growth over the longer term as the market readjusts and
begins to grow again in Australia in the medium term.
And finally, if you're interested in the real estate market down
under and are not an Australian citizen, overseas buyers are
free to own real estate in Australia that has been granted
permission for sale to foreign purchasers; and you can rest
assured that the purchase process will be straightforward
because it is so well regulated in Australia.
About the author:
Rhiannon Williamson writes about overseas real estate investment
and specialises in the analysis of property market trends and
opportunities. To read more information about
target="_new">real estate investment in Australia click
here.
Related Articles for Australian Real Estate
 |
 |
Australian Real Estate News
No relevant info was found on this topic.