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Real Estate In Australia

Australia is a country of so many extremes, being the sixth largest country in the world (50% larger than Europe) but having the lowest population density in the world, some 2 people per square kilometre. The country has historically strong links to Britain, with the Queen still the official monarchy of the country, although the history of Australia is very colourful. Initially populated by the aborigines, the country was used as a place to ship prisoners many years ago. Slowly but surely the aborigine influence in the country was reduced, and western style values introduced.

As the business base of Australia has moved away from the dominance of natural resources, the economy has become much more balanced. Still growing and adjusting to the changes, the economy has been one of the better performing worldwide, since 1990. Relatively stronger than most of their European counterparts in the worldwide down turn in early 2000, the economy has thrown up a number of interesting opportunities for foreign capital.

Due to the sheer size of the country, and the extreme difference in population per kilometre, the market for property in Australia is very diverse. Historically it is the main inland cities of Melbourne and Sydney which have pushed the Australian property market ahead, although the coastal areas with strong popular tourist attractions also performing well. Quality Australian property will always hold an attraction to the foreign investor as the infrastructure in many parts of the country is weak, and sometimes nearly non-existent.

While the vast majority of Australians own their own homes, there is a strong rental market which now represents 29% of all dwellings in the country. There are very many similarities with the UK and Australian economies and style of government, although the fundamental difference is that Australia will never run out of land to develop, although the quality of local services may well diminish the further away you move from the main cities and coastal towns.

The Australian property market has been relatively strong for some time, but due to the high concentration of attractive properties in a limited number of areas, the market can show large short term fluctuations. These tend to flatten out as the slow but sure expansion of the larger cities continues, and investors also look for cheaper alternative areas in the less populated parts of the country. To spot Australia’s next growth city could throw up a very lucrative investment.

Historically the Australian economy has seen a number of volatile phases, although over recent years there are signs of a more gradual increase which looks set to continue. The forecast is underpinned by a stable interest rate outlook, proactive government policies to resist the threat of over heating, a thriving employment sector and stable inflation. These all add up to a great scenario for long term property value appreciation, although there will always be “hot spots” in the country, due to the vast difference in population density.

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