The Australian property market has proven exceedingly resilient to the rigours of the global economic downturn and continues to attract investors both domestically and from overseas.
This is the view of US consultants Demographia, which labelled Australia as one of the most expensive, yet lucrative, property markets in the world.
John Beveridge, writing in the Herald Sun, therefore argued that strict lending practices in Australia coupled with improving affordability means the country's property market looks to be in a rosy position, with fears of a property crash unlikely to come to fruition.
He added that renovations and extensions are commonplace in Australian homes and this too helps to add value to the market.
Meanwhile, research director at RP Data Tim Lawless recently told Australian Property Investor that demand for homes in areas of the country that are renowned for mining has increased significantly in recent months.
He argued this has resulted in prices in places like Queensland and Western Australia having risen considerably.
Posted by Steve Douglas
This is the view of US consultants Demographia, which labelled Australia as one of the most expensive, yet lucrative, property markets in the world.
John Beveridge, writing in the Herald Sun, therefore argued that strict lending practices in Australia coupled with improving affordability means the country's property market looks to be in a rosy position, with fears of a property crash unlikely to come to fruition.
He added that renovations and extensions are commonplace in Australian homes and this too helps to add value to the market.
Meanwhile, research director at RP Data Tim Lawless recently told Australian Property Investor that demand for homes in areas of the country that are renowned for mining has increased significantly in recent months.
He argued this has resulted in prices in places like Queensland and Western Australia having risen considerably.
Posted by Steve Douglas
