Solid signs for property market
An article I read lately talked about the Australian real estate in very bright terms. It said how various factors would together contribute towards a seller’s market.
A responsive share market has brought more liquid cash into the picture and it has also raised the buyer’s confidence. Due to lesser interest rates, people are looking to buy properties instead of investing in Term deposits. Rising manufacturing output in China has created many millionaires in recent past and they are willing to invest into the Australian market in a big way.
The top four banks in Australia are fighting amongst themselves to woo customers and this means an even higher mortgage cuts for buyers. About 2/3rd people in Australia aren’t defaulting on mortgage payments and their credit card dues are also negligible. This gives them more purchasing power. Properties are available at prices they could be bought for in 2009. All these factors have created a buoyant market for real estate. In short, there are just so many pushes for the buyers.
Has the rising share market given you enough confidence to plan for properties?
