The further interest rate cut offered by the RBA on the 7th of May has done little to encourage borrowing activity in Australia. Michael Yardney for the Property Update reports that despite luring circumstances, the mortgage market is not as active as it was before the Global Financial Crisis.
Tracey's Property News
Australia Ranked 2nd By The Annual Human Development Index
If there are times you can see the Sun at midnight, you may be able to boast of being better than Australia. The rest of the world can safely forget the comparison. Australia has been rated 2nd, one rung below Norway (The Land of Midnight Sun), by the Annual Human Development Index.
Property Investment Locations Must Exhibit Diverse Factors Of Growth
Even if you have a Don Bradman in your team, your overreliance on one single genius can hurt you. You will be better served by a team that is blessed with many smart talents (even if a couple of rungs below Bradman). Terry Ryder for the Property Observer writes how areas exhibiting diverse factors of growth should be your choice for property investment.
3 Mental Blocks That Make You An Average Investor
There are very few write-ups which make us take stock, switch on our “introspective mode” and in short prove an eye-opener. Louise Bedford’s piece on the Property Update is just one such write-up. She talks about three mental blocks which do not let us excel as property investors or share traders.
Chinese Tourists Look Beyond Regional Hotspots in Australia
A weakening Australian dollar has made it easier for foreigners to avail our tourist spots. Michael Yardney for the Property Update reports that the signals from global tourism had become frail in the light of a buoyant Aussie dollar.
However, the tourists are coming back in big numbers, now that the Aussie dollar is coming down in worth.
Chinese tourists are already showing very keen interest in visiting Australia and the tourist surge from its shores has pushed past the traditional toppers- Britain and Japan.
The Chinese middle class is finding more and more disposable income with them and they along with the Indian middle class are looking for more frequent holidays down under.
While this is definitely good news, we can witness a shifting trend here too. Unlike yesteryears, the holiday seekers, primarily the Chinese tourists, are not looking for regional locations and its surf and sail. Instead, they are eyeing the capital cities and an urban holiday scene.
Thus, it would serve well to look for holiday properties in the top capital cities and make money through them. For all you know, you may get the Asian tourists interested in investing in your property.
You can read the original article here.
Mid-market segment to benefit most in remainder of 2013
Sydney’s middling properties, ranging from $500,000 to $1.5 million, could benefit most in the year 2013. Larry Schlesinger for the Property Observer says that they could rise as much as 10% in prices, outperforming the First Home Buyer segment and the Prestige Market.
Sydney property market should overall exhibit a growth of close to 5%. Consumer sentiment sub-index for “time to buy a dwelling” has recorded a leap of 11.2%, closing at 142.7
There are three prime reasons for it
- Buyer confidence at its peak since the GFC
- Low interest rates
- High auction clearance rates
All this should drive dwelling prices in mid-market segment higher.
You can read the original article here.
