Australia real estate investment : A guide to buying property in Australia
Australia has great opportunities for property investors but take the time to understand the economy and other drivers of the real estate market before jumping right in. Australians love to invest in their own real estate and you will find a well-developed infrastructure for the property investor in Australia: everything from mortgage brokers to helpful online property forums
Uluru (Ayres Rock) Australia
Australia Overview
Australia is arguably the world’s smallest continent or its largest island, but at over 7.5 million square kilometers its also the 6th largest country. Which is my way of saying that Australia is not a single property market, but is a diverse and interesting one for both local and international property investors.
Australia is a federally based parliamentary democracy with a Federal Government based in Canberra and each of the seven states and territories having their own state-level government.
In a country larger than the US the population has only recently exceeded 20 million people. Of those the vast majority live on the eastern and south-eastern seaboard. Australia is one of the most urbanised countries in the world The oft-quoted claim that the largest mobile telephone provider covers 98% of the population misses out the fact that coverage only extends over 5% of the Australia’s land area.
Although Australia is proud of his history of farming and agriculture and produces and exports a huge range of agriculture products Today, however, the biggest driver for the economy is it mineral resources, particular is huge supplies of coal, iron ore, precious metals, oil and gas.
Australia’s Two Speed Economy
Currently Australia’s economy is being driven by the Chinese ability to buy everything mineral that Australia can dig out of the ground and ship: particularly iron ore. This has led to a distinct two-speed economy with the mineral rich states: notably Queensland and Western Australia having booming economies only limited by the lack of skilled labour. The “winner” states are attracting people from both internal and external migration and property investors are wise to recognise the fundamentals that are driving the resource boom.
