Australia has a wonderful bonus for anyone who emigrates to Australia, not only are the beaches as good as they looked on “Bondi Rescue” but if you decide to buy you own piece of Australia the government will give you money!
Tenants across Australia may have been through the worst of the rental crises and rising rents, for the moment anyway.
The latest figures from Australian Property Monitors (APM) report that the long period of sustained rental increases may have come to the end in most Australian cities. For the last quarter most Australian cities have recorded no increase. In fact the only city with strong rental growth was Darwin whose rental levels now equal Sydney’s. Other cities including Melbourne, Brisbane, Perth, Adelaide, and both the Gold and Sunshine coasts are flat or slightly down. APM senior economist Liam O’Hara is quoted as saying:
South Australia is riding a mining investment surge, which is increasing employment and driving record levels of overseas migration. Predictably property prices have been booming and look set to continue to do so.
OK so there has been a slight share market correction. But to be honest I am starting to wonder how the headline writers in Australia would deal with a real catastrophe: say for example a meteorite heading straight for Sydney, the north Koreans letting off the bomb, something really bad. On the back of a little financial bad news we have headlines of “Calamity in the Markets” and “Financial Melt Down” all because for the first time in a decade the Australian stock exchange won’t deliver double digit returns: well not positive ones anyway.
BREAKFAST POINT is a tidy, waterfront village of more than 2000 cute, Martha Stewart-style homes near Cabarita.
Behind these matching doors, however, a war is under way between one of the state’s most powerful property developers and a group of residents fighting for control of their own strata committee.
Well while the sky is falling on share markets around the world: property in a town run by the government is probably not a bad thing!
Colliers International is picking Barton in Canberra as one of Australia’s housing hot spots. Colliers say that:
Port Hedland isn’t the sort of spot you’d choose for your next holiday. Its remote, hot for 1/2 the year, cold for the rest and dusty. Oh and its just one large industrial port for the iron ore from the Pilbara. It probably won’t look anything like this one though.
Buyers agents are enjoying a resurgence in Australia’s residential property market. Here’s a quick reminder for the terminally naive: normally a real estate agent works for a the seller not the buyer. His job is to sell the property, preferably at the highest price possible. An agent working for the buyer, in contrast, works only for the buyer and is of course therefore paid by the buyer. Depending on the contract you may even end up paying the agent even if you don’t buy a property that the agent has introduced you to. So you need to be sure that property choices he’s presenting you with are the best possible choices in the market.
In the midst of doom and gloom on the share market and some property markets a leading Australian economic forecaster is predicting the slump in land sales will soon end in Perth, Sydney and Melbourne.
More on Land Sales Tipped to Improve in Some Australian Cities
With interest rates still high there are some key reasons why investors should consider an Off The Plan (OTP) investment in Australia.
Rental Yields Will Continue to Rise
Given the current levels of rental demand and lack of supply due to lack of new housing stock and restrictive planning laws this seems likely to continue for some time.
