Sunday, May 30, 2010

Australian Property - Guide to Buying Property in Australia

The Australian Property Market

When it comes to nations in the world that are experiencing a thriving real estate market, Australia is towards the top of the list. Indeed, over the course of the past decade, the real estate market in many locations around Australia has been booming.

Major Australian cities naturally are experiencing the biggest growth in their real estate markets. Cities like Sydney, Perth, and Melbourne are leading the way in the real estate arena. In addition, a great number of more rural areas in the country are experiencing a surprising growth in their own real estate markets. Many people have come to find the more rural areas of the Down Under to have particular appeal.

Investment Property in Australia

An increasing number of people -- both Australian nationals and people living abroad -- have become more involved in purchasing and owning investment real estate in Australia since the turn of the century. Generally speaking, the up tick in the acquisition of investment real estate throughout Australia is taking shape in two general areas.

First of all, a growing number of people are seeking, finding and purchasing real property in th major Australian cities that is then leased to different types of business enterprises. A surprising number of foreign nationals are involved in this type of investment scheme. For example, many Europeans have taken to investing part of their capital in commercial and business properties in the major Australian cities.

Generally speaking, investors have realized a fairly substantial return in this type of investment in recent years. Indeed, from a long term investment standpoint, real estate values have continued to rise significantly in all major Australian cities for the past decade.

Second, a notable number of people who are seeking an investment in income producing real estate have taken to putting their money into properties that are involved in the tourism trade in Australia in one fashion or another. Tourism remains a primary industry in the Down Under in the 21st century. An ever growing number of visitors are trooping to Australia with each passing year.

Most real estate analysts in Australia maintain that no proverbial bubble is yet in sight when it comes to the investment market Down Under. Therefore, most of these experts agree that a present day investment in real estate in Australia is a solid decision, not only for today but well into the future.

Residential Real Estate in Australia - Single Family Properties

As a nation, Australia is a country in which home ownership is a goal (and the reality) for a vast majority of people throughout the country. In point of fact, at the present time, over 70% of the population of Australia owns residential property. A clear minority are tenants or involved in some other living arrangement that does not include the ownership of a home.

In today's Australia, the development and construction of single family residences is being undertaken at a fast clip. The major Australian cities, for the most part, have not yet been overbuilt. Thus, the demand for these properties continues to outstrip supply, at least to some extent. As a result, and generally speaking across the country, the Australian residential real estate market remains a seller's market. Most industry experts and analysts expect this status to remain over the course of the coming ten years.