Australian home prices hailed

Australian homes offer some favourable prices for British investors, it has been stated.

The Daily Mail reported that Perth, Brisbane and Adelaide are all reasonably priced, with the latter having the cheapest homes at an average sale price of GBP183,000, compared with GBP192,000 in Melbourne.

In addition to this, the paper noted, the country can offer a sunny, outdoor lifestyle with which the UK cannot compete, due to its latitude, as well as better economic prospects.

A recent survey of Australian housing trends predicted that the level of prices in the country will be stagnant for the rest of this year, but will start to increase from 2010 with Sydney the first city to start growing again.

The Australian Property Institute study suggested the country's largest centre of population would see this improvement early next year, ahead of locations like Brisbane and Melbourne.

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