australian buy to let potential underestimated by foreign buyers
News Posted On: 08 January 2010
Australia is undoubtedly one of the hottest property markets in the world right now, with the government being forced to increase interest rates at among the fastest pace in the world to prevent house prices rising too quickly.
This is due to demand for property from Australian's not being as badly affected as the government feared, because the economy stayed relatively strong and the banks remained in good shape. This has meant that the government stimulus of low interest rate and assistance for first time buyers caused somewhat of a liquidity surge and a buying spree in the housing market.
Foreigners have undoubtedly played their part in this. Australia is in the top 3 choices for people who want to emigrate from the UK, which is a number growing every year as Britain's gang culture, economic future and weather all continue to worsen.
In Australia, foreign buyers can only by new build property, which is not a bad thing because there are some fantastic new builds on the market.
A massively underestimated market in Australia is the potential for buy to let. About 95% of all British buyers in Australia are buying for occupancy, but a large percentage of those who move across to Australia live in rented accommodation for varying amounts of time, a: to see if they like it, and b: while they find a job etc. Not to mention the strong domestic market for residential rentals -- especially in the larger cities.
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