Demand for Aussie homes is rising
27/07/09 23:17
Property in Australia is increasingly in demand, according to the country's Housing Industry Association (HIA).
The group's chief economist Harley Dale noted that this was thanks to rising land prices, reports Propertyshowrooms.com.
The HIA's report has revealed that the price of land jumped seven per cent in the first quarter of this year.
New demand has been generated by very low variable mortgage deals as well as the First Home Owner's Grant boosts and keenly priced deals from developers.
According to minutes of the Reserve Bank of Australia's recent meeting, house prices are on the up and mortgage approvals are strong.
Expatriate Brits could look to buy property off-plan. By picking an apartment or flat before it has been built, it may be possible to save on the regular price.
Brits who previously moved to Australia may find their influence on Australian culture lessens - the English in Australia, by James Jupp, notes that thanks to a steadily declining intake and ageing immigrant population their direct influence will "increasingly be marginalised".
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