The Australian Real Estate market is known to be the main pillar of the Australian economy. Approximately 65% of the Australia’s GDP comes from Residential Real Estate! Crazy isn’t it? But what makes Real Estate in Australia such a strong market? Well, below are the 5 main reasons why Australia’s Real Estate market is so strong:
- Strong Economy
The Australian economy is one of the strongest in the world, thanks firstly to all of its natural resources, and mining industry. Taxes are fairly low compared to other countries, and extra taxes are not applied when you buy a house.
- Job Opportunities
Most of the population in Australia has a good job and pays tax. The government Invests big money in upgrading streets, buildings, services and transport which affects the value of some properties.
- Foreign Investment
It’s not a surprise that many people from overseas invest in Real Estate in Australia. Being a young country, with beautiful landscapes and the growth in population, the potential is limitless.
- Population Growth
With all that Australia has to offer, many people are moving (temporarily or permanently) to Australia. The vast majority of which, move to the East Coast. Brisbane has just registered its highest number of tourist ever this year. All those people need a place to stay, right?
- Dynamic Market
Being in a state of constant change, the Real Estate Market offers opportunities for both buyers and sellers. The main Australian cities Sydney, Melbourne, Brisbane and Perth, lead the market. When one city changes, it affects how the other cities perform, which results in a constant variable market between the four major cities.For this last reason investing in Real Estate it’s not simple, but with the right teaching, it can bring you out on top. As a result, you should diversify your portfolio! Speak to one of our investment guru’s to find out how we can help you create a powerful and effective property portfolio.