As a person searching for real estate Australia, the primary question you've in mind is: Is the property fairly valued in Australia? If one go by the recent trends, the answer is an unswerving “no”. This is when one looks at the phenomenon from the point of view of a buyer. Australia, like the US, Britain, the Netherlands, Italy, India, South Africa and many others in the developed and developing world, witnessed a real estate bubble in the recent years. Population growth in the country in the last 20 years was unprecedented. Add to it, the rise in immigration figures and the picture of housing shortage, especially in the rental housing sector, in Australia will be clear to anyone.
However, figures show that own-house sector in Australia is not much swayed by other economic trends. With seven-tenths of Australian houses being owner-occupied and around four-fifths of Australians living in separate detached houses, the housing scenario of Australia is comparable to any developed country. Three-fourths of Australians can afford a three bed-room apartment, and hence the size of an average house in Australia appears fairly large.
Weighted average median house price in Australia stands at $450,000. The price varies depending upon several factors in the economy like the income growth and variation in the cost of building materials.. In cities like Sydney, Perth, Canberra and Melbourne, median house price can go well above $450,000. Weekly median rents for three-bedroom houses in these cities can be above $200, while in smaller towns it can go down upto $150.
Even in the midst of volatile real estate prices, your thorough knowledge of the sector can help you zero in on the right property that suits your requirement. Housing property at a rate as low as $200,000 is still available in certain prospering towns of Australia. While paying low prices for property, one also has to take into consideration several aspects that add to the value of it. Proximity to essential life style centers like, schools, hospitals, parks, gymnasium; potential for property price growth; and possibility for rental returns (in case the property is to be given on rent) are some of the factors to be taken into consideration. Reports show that growth potential of towns like Broken Hill, Charters Towers in north Queensland, Elizabeth in South Australia are being tapped as realtors show more and more interest in buying and selling properties in these towns.
Real Estate Associations in Australia
There are three major associations which are credible sources of information on Australia real estate. These associations conduct regular surveys in the realty market and keep the government, media, real estate agents and the public informed about the latest trends in the industry. The three organizations are:
Mapsofworld.com has devoted several pages to give you an overview of real estate Australia. Mapsofworld.com is a one stop destination for city and country maps, thematic maps, travel information, flight and hotel bookings, car rentals and purchase of vacation packages. Browse through the site to know more.
However, figures show that own-house sector in Australia is not much swayed by other economic trends. With seven-tenths of Australian houses being owner-occupied and around four-fifths of Australians living in separate detached houses, the housing scenario of Australia is comparable to any developed country. Three-fourths of Australians can afford a three bed-room apartment, and hence the size of an average house in Australia appears fairly large.
Weighted average median house price in Australia stands at $450,000. The price varies depending upon several factors in the economy like the income growth and variation in the cost of building materials.. In cities like Sydney, Perth, Canberra and Melbourne, median house price can go well above $450,000. Weekly median rents for three-bedroom houses in these cities can be above $200, while in smaller towns it can go down upto $150.
Even in the midst of volatile real estate prices, your thorough knowledge of the sector can help you zero in on the right property that suits your requirement. Housing property at a rate as low as $200,000 is still available in certain prospering towns of Australia. While paying low prices for property, one also has to take into consideration several aspects that add to the value of it. Proximity to essential life style centers like, schools, hospitals, parks, gymnasium; potential for property price growth; and possibility for rental returns (in case the property is to be given on rent) are some of the factors to be taken into consideration. Reports show that growth potential of towns like Broken Hill, Charters Towers in north Queensland, Elizabeth in South Australia are being tapped as realtors show more and more interest in buying and selling properties in these towns.
Real Estate Associations in Australia
There are three major associations which are credible sources of information on Australia real estate. These associations conduct regular surveys in the realty market and keep the government, media, real estate agents and the public informed about the latest trends in the industry. The three organizations are:
- Real Estate Institute of Australia (REIA)
- National Real Estate Franchise Association of Australia (NREFA) and
- First National Real Estate and Australian Commercial Property Agents Association (ACPAA)
Mapsofworld.com has devoted several pages to give you an overview of real estate Australia. Mapsofworld.com is a one stop destination for city and country maps, thematic maps, travel information, flight and hotel bookings, car rentals and purchase of vacation packages. Browse through the site to know more.
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