Australia remains one of the most sought-after countries on international property portal TheMoveChannel.com. Sydney, Perth and Melbourne are all high on the wish list of Down Under destinations. But what makes Australian real estate a smart investment?
The country’s sunny weather and relaxed lifestyle has long been a big draw for overseas buyers looking for a new life. Indeed, expats are one of the main driving forces of enquiries into Australian property on TheMoveChannel.com. This interest is encouraged by Oz’s employment opportunities; a shortage of workers in skilled industries has led to thousands of jobs, for example, in construction, which provides a secure future for those facing the big step of moving abroad.
The strong career prospects are backed up by an effective infrastructure, widely available goods and services and a low crime rate. Combined, these factors have all seen Australia’s cities repeatedly ranked in the world’s top 10 most liveable cities, with Melbourne, Adelaide, Sydney and Perth all making the cut.
That same lifestyle appeal is what brings tourists to the country too: the relaxed locals, sunny climate and long, beautiful beaches. With overseas visitor numbers consistently on the up, Australia property is not just a reliable investment for an expat’s future but for those looking for rental returns – and, in many cases, capital gains too.
Indeed, investors are currently rushing into Australia to take advantage of swelling values. Sydney’s shortage of housing has pushed demand up. Now, properties are selling within 30 days of hitting the market, according to RP Data, while values have risen 7 per cent in the last 12 months alone. Perth has seen a similar rise in values, reaching into double digits, while Melbourne has also experienced climbing prices.
The result is a market that favours investors: private individuals buying property outright can enjoy a profit from reselling, while the need for rental property remains strong, particularly in the capital. Other investors are buying as part of a self manager super fund and witnessing a similar growth in returns.
This dual combination of lifestyle and financial desirability to buyers is what makes Australian property a smart investment; regardless of the wider economic climate, it is a property market with universal appeal.
Looking to buy Down Under? TheMoveChannel.com picks three investment hotspots with strong future potential:
Narraweena – Sydney
Located in the North of Sydney, Narraweena is a suburb that is close to the beach. Set back from the shore, it is a quieter suburb than the main buying hotspots but still offers residents views from the coast. Indeed, its location provides investors with a lot of room for growth as buyers in search of housing move into relatively untapped markets.
Scarborough – Perth
Scarborough beach near Perth is a well-known coastal destination, but the suburb is set for a new spurt of growth as the government announces development plans for 1.6km plot of land along the beachfront.
Thornbury – Melbourne
House prices have steadily risen in Melbourne’s suburb of Thornbury. Located North of the Central Business District, the area is ideal for commuters and family hosue hunters, while its position ensures house prices will enjoy the ripple effect of both the city centre and neighbouring, more expensive, suburbs.