So last week media commentators were talking about a busy holiday season in Australian property – now it appears that all is doom and gloom again. Frankly I wish newspapers would stop treating the whole of Australia as a single property market and making meaningless broad statements which may indeed to be right for some small part of the sector but is probably incorrect for the other 90% of the Australian property sector!
More on Australia Property – Looking at a Quiet Three Months
We are now well into the silly season as far as Australia and New Zealand is concerned. Most kids seems to be out of school and parents are focused on buying, buying, buying. The slightly unusual thing this year there seem to be a fair few people are buying property not just Christmas presents. So what is the property market like in Australia during the Christmas and holiday season?
More on Australian Property: Buying and Selling at Christmas
On an annual basis every Australian property investor should sit down and review their property portfolio. Many people will do this around the end of the tax year – but I prefer to do it over the Christmas / New Year holiday’s when I have more time and also time to make any property investment changes and have them reflect in the current year’s tax return.
What makes Australian property investors different from property investors in other parts of the world? Well a complete answer would take a lot more electrons than I have here but to me there are several characteristics that those down-under have which are distinct from property investors in other countries.
More on Australian Property Investors – Why is Property Investment so Popular in Australia
You can’t open a newspaper or drive past a desirable coastal location without coming across the signs – you know the ones the happy smiling couple who look just past middle age who are enjoying a pool-side gin and tonic or maybe enjoying a friendly tennis match. They are invariably advertiseumetns for “over-45′s” or “adults” communities – what used to be known as retirement villages. The question is – are they are a good property investment?
More on Australian Property Investment Retirees Don’t Buy Retirement Villages
Well its hard to find any good new that relates to Australian property investment these days. But here’s a couple that caught the eye recently.
Given the parlous state the iron ore industry which currently laying off thousands of workers since Christmas its interesting to see that a caravan park in Karratha has been snapped up by investors for $12 million.
I hear rumour that a few brave aussie property investors are eyeing up the US market where there are some very cheap residential property investment opportunities at the moment. Forget a mortgage, houses can be had for under $10,000 in Detroit – that’s credit card country. Even allowing for the currently lousy A$ rate that’s around A$16,000 – for a whole house, and yes including land!
More on Australian Property Investment? Or Overseas Property Investment
Well I tried really hard to find a more upbeat post on Australian property news compared to my last post. Unfortunately the world is not cooperating with me today. Its all doom and gloom in the property world down under.
Auction clearance rates are still well-down despite a glimmer of hope in some of the east coast cities. Clearance rates in Melbourne and Sydney improved over the weekend with Sydney reporting a clearance rate of 44.7%, up from the previous weekend’s 41.7%. Melbourne’s figures were 48.1% compared to 41.7% the previous week.
A new website is promoting Australian property to UK investors. Australian Investment Property is a UK based operation which acts as brokers for Brits looking to invest in the great sunburnt country – down under.
