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Investors advised to head for Australia

Article Date : Wednesday, June 06, 2007       Bookmark on Facebook   Bookmark on Del   Bookmark on Digg   Bookmark on Facebook   Bookmark on Reddit   Bookmark on Spurl   Bookmark on Furl   Bookmark on Yahoo   Bookmark on Magnolia   Bookmark on StumbleUpon   Bookmark on BlinkList

The outlook for Australia's property sector has improved to the extent that investors are now returning to the market, it has been advised.

ANZ Bank research has found that vacancy rate across rented accommodation have fallen from 3.8 per cent in 2004 to 1.4 per cent currently, with levels expected to hit a 20-year low of one per cent by the end of the year.

Meanwhile, according to the Australian Bureau of Statistics, rents rose by 4.4 per cent and prices by 8.6 per cent in the 12 months up to March, according to news.com.au.

"Longer term, about 70 per cent of returns from residential property are derived from capital gains rather than rents, so that should be your focus,'' property advisor Michael Matusik told the news source.

House prices have risen by 128 per cent in real terms since the mid 1980s, ANZ chief economist Saul Eslake said last week, speaking at a Property Council of Australia event.
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