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.
Jan and Ian Somers entered the Property Investment industry in 1989. somersoft.com.au is their website which they use to support their books and software over the years up until the latest book “More Wealth from Residential Property”.
Australia is suddenly talking about modular or pre-built housing. It’s taken a while but suddenly modular housing is seen to be the way of the future, and you would have to say about time too.
