Australia rides high in international property survey

Australia has shown itself to be one of the best-performing markets in the latest Knight Frank Global House Price Survey.

The research revealed that the country saw property values increase by 4.2 per cent in the third quarter of this year, with the annual figure jumping by 6.2 per cent.

Such a development put Australia fifth in the list of nations studied by the firm, with head of residential research Liam Bailey noting that its growth is "accelerating".

A major reason for this is that Australia has been left "relatively unscathed by the credit crunch", he stated.

In addition, he observed that Asia - which also saw little direct impact from the financial crisis - has seen many top performers.

Those keen to buy property in Australia may be encouraged by the fact that it and its main regional trading partners in the Asia-Pacific region have been performing better than other parts of the world.

The positive effects of this for the country were highlighted in a speech on November 5th by governor of the Reserve Bank of Australia Glenn Stevens.

He remarked that the extensive trade links with Asia are "paying dividends".

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