In an article on ABC news, business reporter David Chau turns his attention to Australia’s housing market.
According to the latest Demographia rankings, Sydney is the second most expensive property market in the world.
But a local Australian housing market expert disagrees.
The real estate industry is a competitive field. To stand out, businesses employ different marketing strategies to entice more buyers to purchase a property.
And it’s probably because of this, that some businesses end up walking a fine line between promoting their properties and spruiking them.
Over the last few years, Australia’s economic growth hasn’t been anything that’s worth talking about. Australian housing market, however, has made many investors very happy. A year to end-Quarter 3 2015 analysis reveals that house prices shot up by 11.4% across the eight chief capital cities of Australia. This ‘nominal’ rise can be seen as a 9.72% ‘real’ or inflation-adjusted rise.
This year to year increase, says the Australian Bureau of Statistics, (ABS) is the highest recorded since the second quarter of 2010. All, however, may not be good with Sydney real estate in particular and the Australian housing market in general. Let us dissect the residential property market and also find out that one major threat which may especially push Sydney further down a number of steps.
Property investors, in the course of becoming landlords, sometimes get scratched the wrong end. It happens when they land on a tenant whose dream is to create a nightmare for the landlord. Can this situation be avoided? YES. Ever so completely!
The sheer resilience of real estate means that the ‘brick and mortar’ is never quite off the investment cards. In fact, for us Australians, it is more like the panacea of the present day. We know that the market has caught good momentum and it is only going to take off for greater glories without any threat of boom (and subsequent bust) at hand. So if you are looking to create a portfolio for yourself or invest as an owner-occupier, all you need to do is to conduct your homework diligently before embarking on the property market journey- rest will fall in place.
Unless you have benefitted from a matrimonial home via the Family Law Act or gained through a gift in Will, you will be at the receiving end of the Stamp Duty storm. Property taxes are pretty high for Australia when compared to other developed countries, suggests Anthony Keane for the website news.com.au
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