Latest NewsTop 10 Overseas Property Investments in 2010Tuesday, 15 November 2016

No. 6  -  Property in Australia

The Australian economic and property market recovery has been swifter than the other leading nations around the world.

It has been claimed that the revival in the country's property market and economy is as much as 12 months ahead of the other developed countries in the economic cycle.

Unemployment peaked in September 2009, in stark contrast to Britain and the USA, while increasing commodity demand from China has forced the Australian Central Bank to raise benchmark interest rates. Yet this has failed to cool strong residential demand, which coupled with a general housing shortage, is forcing property values higher.

The latest Australian Bureau of Statistics house price index shows that the average price of a residential Australia property appreciated by 4.2% in the third quarter of 2009, which means that in the year to September, residential prices increased 6.2%.

Australia could be set for a residential property price boom over the next few years, as the country's economy continues to show genuine signs of recovery.

A recent Australia property report projected that average residential prices in nearly all capital cities would increase by between 11% and 19% by 2012, with the greatest property price rises expected to be recorded in Sydney, Adelaide and Melbourne.

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