Observatory Hill, Sydney, Australia
With the credit crunch continuing, and luxury real estate developments collapsing around the world, it is good to see a robust development continuing as planned. Observatory Hill on Sydney’s waterfront is one such example.
More on Property Investment Opportunity in Australia – Observatory Hill
The rental crises has reached new lows in Sydney with 30-40 applicants turning up for open house inspections, causing traffic congestion and even “rental rage”.
With rental rates of 1-2% for the last few years are set to get worse rather than better in the short-term. REI president Steve Martin is quoted as saying:
Sadly in Australia there are still one set of laws for the original inhabitants and one for everyone else. Partly due to huge distances involved and their remoteness traditional Aborigine communities have different laws from elsewhere in Australia.
The local papers in Australia are running supplements explaining to the locals what is happening to the sharemarket – you see its done something that a generation either hasn’t experienced or has forgotten about: its gone down and by a lot. The fall out from Lehrmann Brothers was the last straw and the local market dived like it hasn’t for years. I suspect some of those who have had their retirement savings in the share market feel a bit like this guy:
Following the enormous success of local sales, Multiplex Living’s Promenade Hamilton Apartments at the vibrant $1.3 billion Portside Wharf precinct in Hamilton, Brisbane are set to attract international investment with an intensive sales campaign targeting Asia launching in Singapore on September 18.
More on BRISBANE WATERFRONT DEVELOPMENT SET TO ATTRACT INTERNATIONAL INVESTORS
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.
Some interesting stats out this week for those of you hoping to get a bargain from a desperate seller. The latest RP Data figures compare average listing prices to actual settlement prices across Australia and makes for some interesting reading.
Options are not new but they are not often available for residential property in Australia.
Options are a concept from share investment where the buyer buys the right but not the obligation to buy a share a certain price at a particular time in the future.
The tide has finally turned on the holiday home market in south west WA.
Perth’s millionaires are finding it hard to move their second (or third or fourth) homes. Dunsborough, the premier town of the region and conveniently close to the Margaret River wineries, has seen the median house price fall 11.4% to $655,000 in the year to June. It might be worth remembering that as recently as 2003 the median house price in Dunsborough was $252,000.
It used to be a surprise when Australia’s Reserve Bank changed the official cash rate. Not any more – and it is more with a “finally” than surprise that greeted the Reserve Bank’s announcement.
