Real Estate & Editors' Choice News in Australia from Propertyshowrooms.com

Australian property 'can be affordable'

Fri, 28 Oct 2011 00:00:00 GMT

Although not all regions in Australia have seen their property prices decline, there are still affordable areas that Brits relocating overseas may want to target.

This is the assertion of editor of A Place in the Sun Magazine Liz Rowlinson, who explained there is a "huge spectrum" of homes available on the Australian real estate market.

While some parts of the country are more affordable than the UK, she pointed out the destinations such as Sydney remain "very expensive".

Among the most popular locations for Brits are Perth, Victoria and New South Wales, Ms Rowlinson advised.

Earlier this month, an article for Global Property Guide noted that the Reserve Bank of Australia has been attempting to cool house price growth in the nation.

The publication highlighted interest rate rises that were implemented at the end of 2010, which have succeeded in weakening the real estate sector and reining in climbing property values.

Cheaper Australian suburbs 'may perform well'

Tue, 11 Oct 2011 00:00:00 GMT

Properties in some of the cheaper suburbs in Australia's major cities are likely to experience strong capital growth, it has been claimed.

An article on news.com.au highlighted certain areas as being "ugly ducklings" that will mature into profitable real estate markets over time.

Everton Park and Manly in Queensland, Alexandria, Cessnock and Port Macquarie in New South Wales and Glendalough and Osborne Park in Western Australia were among the locations singled out.

According to the news provider, properties at the lower end of the price scale usually offers "higher rental returns".

Meanwhile, areas boasting good transport links into city centres and government initiatives to increase the number of jobs available are factors that are likely to encourage strong capital growth in Australian real estate, the publication added.

Last month, spokesman for the Australian Visa Bureau Tom Blackett highlighted the lucrative nature of long-term property investments in the country.

He added that there is "a large disparity" between the values of homes in different regions, allowing buyers to pick up dwellings at a relatively low cost if they avoid major centres, such as Sydney.

Long-term property investment in Australia 'lucrative'

Tue, 4 Oct 2011 00:00:00 GMT

Individuals looking to make a long-term investment abroad should consider property in Australia.

This is because the sector has been described as "highly lucrative" by Tom Blackett, a spokesman for the Australian Visa Bureau.

He added that individuals should not be put off from purchasing homes in the country by the initial prices.

"When you factor in higher wages and a better standard of living, the Aussie property market comes up a winner," Mr Blackett observed.

For those who are looking a good deal, the key is to buy in the right area.

This is because Mr Blackett observed dwellings in Tasmania can cost up to 50% less than those in Sydney.

Individuals will also find that stamp duty and land transfer registration can add an extra six per cent onto the actual cost of an abode, but the National Australia Bank survey showed that price fell in September.

'Many reasons' Australia attracts overseas investors

Mon, 19 Sep 2011 00:00:00 GMT

There are numerous reasons why investors choose to purchase real estate in Australia, one expert has commented.

Eynas Brodie, editor of Australian Property Investor, explained that the nation's political stability, school system and the availability of land are just some of the things that draw people to the country.

She also pointed out that foreigners are not restricted by how much they can borrow for a mortgage.

Ms Brodie added that there appears to be a pattern about where overseas investors purchase property.

"Anecdotal evidence shows that foreign investors generally like to buy real estate close to universities and transport infrastructure, such as capital city locations," she stated.

This inclination towards major urban hubs could prove to be an advantage where price is concerned at present, with the RP Data - Rismark Home Value Index from July recording a marginal drop in the cost of buying a dwelling in such locations.

Melbourne showed the largest monthly decline of 1.4 per cent, while on an annual basis Brisbane and Perth have seen the biggest price falls of 6.6 per cent and 6.3 per cent respectively.

Sydney 'a world-class' real estate location

Fri, 12 Aug 2011 00:00:00 GMT

Sydney is one of ten cities to be singled out by Savills to appear on its World Class Index relating to premier residential real estate.

The Australian destination was also revealed to offer the "best value" among economies classed as "old world", along with New York.

Other locations in this category are Tokyo, Paris and London, while the "new world" cities on the list are Singapore, Shanghai, Hong Kong, Mumbai and Moscow.

Head of Savills residential research Yolande Barnes pointed out that Sydney's property market has real potential for growth.

She explained that the city is "very well placed to benefit from investment from frustrated Chinese and other far eastern investors", but added that its market will need to "open up" to such buyers if it is to capitalise on the opportunity.

According to the most recent figures published in the RP Data-Rismark Home Value Index, Sydney was the best performing state capital in the country, experiencing a year-on-year rise in prices of 0.5 per cent in June.

More stock available in Australian cities

Sat, 18 Jun 2011 00:00:00 GMT

There was 30 per cent more stock available in the Australian property market during May 2011 than a year previous, data from SQM Research has revealed.

On average, the number of properties available to purchase increased 29.7 per cent year-on-year to May.

However, in some cities the rate was even higher. Melbourne led the way, with a year-on-year increase in stock available of 49.6 per cent.

SQM Research chief Louis Christopher said that this was a huge rise.

"Year-on-year, we are still seeing an extensive increase - comparatively speaking, the amount of stock on market is still on the rise," he added.

Mr Christopher forecast that the high level of stock currently available is likely to have an impact on the price of homes in the country.

"We've always said the decline on house prices will be mid to high single digits, and we still hold to that because there is still weakness in demand side, but what this means is that if listings do peak, we will unlikely see falls in the capital cities in the double digits," he confirmed.

Brits look to emigrate, with Oz topping their wish list

Thu, 28 Apr 2011 00:00:00 GMT

Australia has emerged as the top destination for Brits looking to emigrate.

The temptation to leave the UK in search of pastures new is now stronger than ever before, the latest research from Aviva has found.

Some 46 per cent of the 1,000 consumers questioned in the study claim that they are considering a permanent move abroad, with the insurance firm claiming that recent austerity measures are the driving force behind the unrest.

And demand for property in Australia may be set to rise, with respondents stating that their ideal move would be down under.

"When times are tough, it might seem natural to set one's sights on moving abroad," Teresa Rogers, business lead for International PMI at Aviva said.

"But our survey shows that there are certainly pros and cons to moving and people need to plan carefully if they are considering making their dream a reality."

Meanwhile, Colliers International recently claimed that the level of distressed property sales in Australia will shoot upwards over the coming 12 months as the country's property market recovers.

Australian distressed properties to increase in popularity

Wed, 13 Apr 2011 00:00:00 GMT

The level of distressed property sales in Australia will shoot upwards over the coming 12 months as the country's property market recovers.

Colliers International has claimed that there will be a double-digit increase in the number of foreclosed sales, with lenders desperate to offload such assets from their books.

"We are expecting a lot of larger assets, say A$20 million-plus assets, to come onto the market due to the improvement of the property market," Mathew Tiller, Colliers research manager, told Reuters.

Indeed, Mr Tiller added that he expects double-digit growth in value and volume of distressed assets over the next 12 months, with development sites and flood-stricken farmland to figure among the sales.

It follows news that property sales in Australia have petered off following their strong growth last year.

The latest Housing Industry Association (HIA) figures have revealed that sales of new homes were almost static in February compared to the previous month.

Australian real estate to fall in value this year

Thu, 6 Jan 2011 00:00:00 GMT

House prices in Australia are expected to fall considerably during 2011, according to The Global Real Estate Trends report.

The drop in value will be a result of government planned spending cuts, austerity measures and higher interest rates, the report explained.

Australia was singled out as one of the top-performing markets during 2010 - alongside Canada, France, Sweden, Switzerland and the UK - thanks to a combination of a high rate of demand matched by "low unemployment rates and tight supply … all of which added to the upward pressure on prices".

Indeed, the global report noted that the world's residential property markets "experienced a modest but uneven recovery in 2010".

However, increasing interest rates will slow up the sector considerably this year says the report.

The news is likely to be welcomed by individuals looking to buy property in Australia, with the falling prices making the market more accessible for investors.

Meanwhile, Economist magazine recently conducted a survey of global housing prices which found that a significant majority of people believe house prices down under to be overvalued.

Australian property market holds 'tremendous opportunity' for investors

Thu, 23 Dec 2010 00:00:00 GMT

An expert has highlighted the 'tremendous opportunity' that exists for those looking to buy property in Australia.

Writing in an article for The Australian, Terry Ryder, founder of hotspotting.com.au, claims that some analysts have been far too pessimistic in their outlook for the Australian real estate market.

He argues that there will be many specific property hotspots around the country where investors can still stand to make good gains.

"I see next year as a time of tremendous opportunity for developers and investors who have the sense to look past the inexpert generalisations and see the potential emerging in specific hotspots around Australia," he writes.

For example, Mr Ryder says that markets in Adelaide and key regional centres of South Australia will receive impetus from infrastructure developments and resources projects next year.

Similarly, "gargantuan" construction projects in Western Australia will pour wealth into the state capital Perth and regional centres such as Karratha, Port Hedland, Broome, Geraldton, Bunbury and Albany, he advises.

It follows recent figures from the Real Estate Buyers Association of Australia which showed that foreign investors are becoming increasingly active in buying up real estate in the country.

New builds increasing in Australia

Sat, 4 Dec 2010 00:00:00 GMT

Investors looking to buy property in Australia will be encouraged by news that an increasing number of new builds are set to be built in the country.

However, the forecast for the real estate sector remains gloomy, with higher interest rates having an adverse effect on the market, the Housing Industry Association (HIA) has claimed.

Indeed, expectations of increased rates have really had a negative impact on the market "as a result, the likelihood of a sharp correction in new home building in 2011 is increasing," HIA senior economist Andrew Harvey said.

The comments follow an announcement from the Australian Bureau of Statistics (ABS) which revealed that construction approvals increased 9.3 per cent in seasonally adjusted terms in October after falling for the previous six months.

According to the ABS figures, approvals increased in New South Wales by 14 per cent, in Victoria by 4.6 per cent, in South Australia by 6.1 per cent and in Western Australia by 2.3 per cent.

Meanwhile, on average prices across the country rose by 0.3 per cent in October with Canberra reporting the biggest increase of 1.8 per cent.

Australian property investors 'should consider worst-case scenarios'

Fri, 20 Aug 2010 00:00:00 GMT

All investors looking to buy Australian property should consider every financial scenario they could possibly face, an expert has advised.

James Thomson, editor of SmartCompany, has suggested that people take these into account when making property decisions no matter how unlikely the circumstances they are contemplating.

He said that investors should actually consider how their equity position would be affected if house prices were to crash by anywhere up to ten per cent, or whether mortgage rates were to be hiked by as much as five per cent.

Mr Thomson said: "A bit of personal stress testing will go a long way."

He asserted: "Economy-wide comparisons of debt to equity ratios, income to house prices, and metropolitan and regional prices are important to watch, particularly where they may impact economic growth."

Earlier this month, BuyAssociation editor Paul Collins warned foreign property buyers to get advice about moving overseas in order to obtain homes in the most lucrative areas.

Melbourne, Australia's property market could be 'top performer'

Tue, 27 Jul 2010 00:00:00 GMT

Those looking to purchase overseas property in Australia may be interested to learn that Melbourne's property market looks set to have been one of the best performing markets over the last 12 months, according to an expert.

Matthew Bell, an economist for Australian Property Monitors, claimed that Melbourne saw the average house price rise by more than 25 per cent over the year to March 2010, reports the Sydney Morning Herald.

Such a rise would make Melbourne one of the world's most successfully-performing property markets in the last year.

Mr Bell pointed out that rises in average housing prices indicated a shift in the types of houses being sold and an increase in housing value.

He believes that Melbourne's suburbs have seen an increase in properties being bought at the top end of the market during the most recent 12 month period.

Last week, it was reported by the Sydney Morning Herald that low interest rates across Australia had ensured the country's housing market had remained strong during a time were many other countries had seen their property values struggle.

Australian property bolstered by strong economy

Mon, 5 Apr 2010 00:00:00 GMT

A strong economy is likely to help the Australian property market continue to post steady gains in the future, it has been noted.

According to PropertyShowrooms.com, the country is not expected to post huge gains like some Asian nations are predicted to, but the fact that it remains in a strong financial position will work to its advantage.

Terry Hobbs, media manager at the property portal, revealed his predictions for the market down under, citing the fact that Australia had not experienced the same problems as many European destinations.

He continued: "I think it is just very strong. There is a good economic situation over there.

"I think they are just a little bit more stable [than Europe]. It is not going to see huge amounts of growth, but I think it is just a good steady investment over there."

The latest wealth report, compiled by Knight Frank and Citi Bank, revealed that Sydney was one of the most expensive destinations in the world for prime property.

Australian market continues to grow

Mon, 22 Mar 2010 00:00:00 GMT

Those who invested early in the Australian property market will be enjoying the steep growth that their homes have been experiencing over the last year.

Property Journalist Marc Da-Silva has claimed that buying in the country's market can be quite expensive currently thanks to the significant price increases that have been seen nationwide, with some regions benefiting from "double digit growth".

However, according to reports by Australian Unity Investments (AUI), the market in the southern hemisphere country is set to perform well this year.

Martin Hession, head of property at AUI, explained that potential investors can find good opportunities.

"Because banks have not been financing property development for almost two years, supply is set to become tight very quickly.

"Combined with an economic recovery in Australia and solid growth in white-collar employment, you get the ideal conditions for substantial growth in the property market."

Furthermore, in February the latest RP Data-Rismark National Home Value Index demonstrated an average increase of 1.8 per cent in property vales across the country.

Singer adds to Australian investors

Tue, 5 Jan 2010 00:00:00 GMT

The ranks of Britons buying overseas property in Australia have been joined by singer Robbie Williams.

Former Take That member Williams has opted to buy a property in the outback near the town of Daly waters in the Northern Territory.

He recently visited Australia with girlfriend Ayda Field and the move comes after he spoke publicly about investing in the country.

The outback retreat may provide a contrast with his other homes in London and Los Angeles and those keen to move away from a city in Britain might find it attractive to find a place in Australia away from major centres of population.

People from different countries are increasingly favouring Australia as a place to emigrate to, figures published last week indicated.

Data from the Australian Visa Bureau showed that there had been a 25 per cent rise in Irish visa applications in 2009, as well as a 13 per cent increase from Canadians.

Australia homebuyers 'looking away from city'

Thu, 24 Dec 2009 00:00:00 GMT

Homebuyers in Australia are finding it cheaper to purchase further away from central areas of cities, it has been revealed.

A study by Bankwest-Mortgage and the Finance Association of Australia (MFAA) found that buyers have been increasingly looking to acquire less expensive homes, even if it means a longer commute into city centres.

The survey discovered per cent of first-time buyers are looking to acquire a property for less than they originally intended in order to get on the housing ladder, with 31.3 per cent saying they were intending to do this by living further from central business districts.

Those planning on investing in Australia may find that areas in the outer suburbs of cities turn out to have the best value homes.

Senior project manager of residential property at BIS Shrapnel Angie Zigomanis told the Sydney Morning Herald earlier this month that he expects house price rises to be steady next year, with interest rate increases preventing runaway inflation in the market.

Australian capital cities see new price rise

Wed, 4 Nov 2009 00:00:00 GMT

Existing homes in state and territory capitals across Australia rose by 4.2 per cent in the three months to September, it has been revealed.

Data from the Australian Bureau of Statistics has shown that the eight capitals all saw increases in the period, with the largest being Melbourne at 4.7 per cent.

Above-average rises were also seen in Perth (4.5 per cent), Brisbane (4.4 per cent) Sydney and Canberra (both 4.3 per cent).

The smallest increase was recorded by Adelaide (1.7 per cent), followed by Hobart on 1.8 per cent.

Over the past year, however, the greatest improvement has taken place in Darwin, which saw a 12.3 per cent increase, nearly twice the 6.2 per cent national average.

In contrast, Perth's annual increase of 4.4 per cent is less than its quarterly rise, indicating that the city has been bouncing back from a slump.

Australia may be set for more growth soon as its economy is improving faster than expected.

Treasury minister Wayne Swan said that since the Budget, projections for employment levels, economic growth and public finance have all got better.

This development "underscores Australia's position as the strongest performing advanced economy in the world," he claimed.

First-time buyers 'boosting Australian property market'

Wed, 16 Sep 2009 00:00:00 GMT

The increase in the number of first-time buyers in Australia promises to help the market grow, it has been predicted.

Figures for auctions in the country have shown that sales rates are still over 70 per cent, according to Australian Property Monitors.

First-time buyer numbers are increasing due to government grants to help them get on the ladder and according to forecasting firm BIS Shrapnel these will rise by as much as 17,000 in each of the next five months.

Managing director of the company Robert Mellor suggested this will lead to a four per cent increase in prices in 2010.

Such a situation may encourage those investing in property in the country.

Writing in the Australian newspaper last month, BIS Shrapnel's chief economist Frank Gelber predicted that there is likely to be a slow recovery at first, followed by a housing boom four years from now after the economy picks up pace.

Australia among top property performers

Sat, 12 Sep 2009 00:00:00 GMT

Australia experienced the second highest increase in a poll of world property prices rep during the second quarter of this year, it has been revealed.

The country saw a 4.2 per cent rise in values during the three months to June, according to the Knight Frank Global House Price Index, a rise only topped by Norway.

This represented a recovery from the first quarter of the year, when the average price dipped by 1.5 per cent.

Such a trend may add weight to the view that Australia is recovering faster in both its housing market and economy than many other countries, something that could encourage those thinking of buying a home there.

Commenting at the start of this month after the Reserve Bank of Australia decided to hold interest rates, governor of the bank Glenn Stevens stated that economic conditions "have been stronger than expected".

Mr Stevens also noted that house prices have risen recently.

Bargain hunters told to opt for Brisbane

Fri, 31 Jul 2009 00:00:00 GMT

Australian property seekers looking towards Queensland may find cheaper homes in Brisbane than on the Gold Coast, new figures have suggested.

New research by RP Data has shown that seven of the ten most expensive suburbs outside the country's state capitals are in the area, with the most costly being Surfers Paradise at AUD1.284 million (GBP641,000) and Mermaid Beach at AUD1.1 million, Goldcoast.com reports.

Commenting on the findings, RP data researcher and analyst Cameron Kusher said: "In many cases property values on the Coast are higher than they are in Brisbane, particularly for houses."

He added: "It is getting harder and harder to get affordable property on the Gold Coast."

Other figures from the company have found that the state of Queensland saw the largest influx of new residents over the past year.

The total of 107,000 was made up of a mixture of Australians and overseas migrants, whereas people from abroad comprised most of the total of 102,000 people freshly domiciled in Victoria.

Visa change may boost Australia property seekers

Thu, 25 Jun 2009 00:00:00 GMT

Those seeking to buy Australian property may be boosted by a change to visa rules in the country.

From July 1st holders of class 410 visas will now be able to work without restriction, rather than being limited to 20 hours per week as is the case now, the federal government has announced.

Those whose visas are issued between now and July will still be restricted, but once this is reapplied for they too will have no working time limit imposed.

Such a move could help many Britons keen to live in Australia but who would need to work full-time to support themselves and their families.

Australia's decision to change the law comes at a time when new-build homes in the country are becoming more affordable, the Housing Industry Association (HIA) has noted.

The HIA-RP Data Residential Land Report revealed that median land prices in state capitals across the country fell by 1.5 per cent in the fourth quarter of 2008, ending an increase of 111 per cent over eight years.

It said the most expensive city in the country remained Sydney, while Hobart in Tasmania was cheapest.

Population boom means good news for property investors

Sun, 5 Oct 2008 00:00:00 GMT

Australia is experiencing the largest migrant driven population boom in history, with our overall population increasing by 1.61% for the year – the most rapid growth we have experienced in almost 19 years.

This is the kind of news that property investors should be glad to hear, particularly in these uncertain economic times when the press is intent on reporting the doom and gloom.

Read on to restore your faith in the future of property…

Australia tipped to ride out global storm

Tue, 16 Sep 2008 00:00:00 GMT

Australian economy tipped to avoid the worst of the fallout from the Lehman Brothers collapse...

Perth property market 'to keep growing'

Thu, 11 Sep 2008 00:00:00 GMT

The property market in Perth is likely to continue growing strongly in the long term, it has been suggested.

Speaking to Perth Now, Real Estate Institute of Western Australia president Rob Druitt stated that in the near future the market could "ebb and flow" but prospects for further ahead are positive.

"Homebuyers looking at the medium to long term should have no doubt of the positive outlook for WA's [Western Australia] property market," he stated.

Furthermore, he called for the government to play a part in "appropriate development" of the city in the future.

Mr Druitt's comments follow statistics released by the Australian Bureau of Statistics showing that predict Perth's population to double in the next 50 years.

And it has been suggested by real estate experts that other locations in Australia such as Adelaide will soon be boosted by a property boom.

Record number of Britons moving abroad

Mon, 25 Aug 2008 00:00:00 GMT

A record number of people from the UK are choosing to emigrate, official figures have revealed.

The Office for National Statistics (ONS) found that last year, 406,000 people living in Britain opted to move abroad.

Although many of these were found to be earlier immigrants returning home, about half were said to be British nationals.

A total of 202,000 UK citizens emigrated to foreign shores last year - the highest amount ever recorded under the current measuring system.

The ONS added that people from Britain are choosing to set up home in many different parts of the world.

For example, some were said to be moving to English-speaking nations such as Australia, while others favoured short-haul countries including Spain.

This follows figures from HiFX which revealed a recent surge of interest in buying property in Australia.

According to the firm, the country was the subject of ten per cent of the enquiries it received into moving abroad in April 2008.

Britons flee to Australia

Wed, 6 Aug 2008 00:00:00 GMT

A growing number of British nationals are choosing to relocate and set up home in Australia, it has been revealed.

According to figures from The Emigration Group, the country has attracted 23,906 people from the UK in the last year.

The organisation believes this is because Australia offers both lifestyle and financial benefits, such as good weather, lower taxes and more affordable house prices.

Paul Arthur, director of the Emigration Group, added that that expats can often get paid more than they would in the UK.

Speaking to the Daily Star, he commented: "What it boils down to is you get more for your pound down under."

Mr Arthur added that the Australian government has revised its immigration policy in order to attract skilled workers from overseas.

The comments follow figures from HiFX which revealed a recent surge of interest in buying property in Australia.

According to the firm, the country was the subject of ten per cent of the enquiries it received into moving abroad in April 2008.