Where to Buy Real Estate in Australia?
Next: Where to Invest
Property has always been a tangible asset that can yield solid returns, while Australia offers international investors a safe haven in the Asia Pacific Region.
Indeed, Australia has been internationally recognised as an economy that is well managed with strong fundamentals. Australia’s performance can be credited to the nations level of technology and the quality of its public institutions.
Property in Australia can also have potential tax concessions as well as rental income. Most importantly, the essential reason people invest in Australian property is that is has the potential to grow in value.
Holding property for the long term will maximise return on your investment.
Where you invest will have an important role in that potential to grow in value. Different locations found throughout Australia, increase in value quicker than other places. The capital cities of Australia, including Sydney, Melbourne, Canberra and Brisbane have consistently proven winners over the years, with properties in Perth, Western Australia achieving high capital growth as well.
Note: Both Melbourne and Perth have moved above the more traditional high growth cities of Sydney, Canberra and Brisbane in the last two years. Areas within the 20km radius of the capital city centres are still proving profitable in the long term.
Within those cities, certain areas are better than others. Then there are places outside the capital cities, like the Gold Coast and the Sunshine Coast in Queensland that have been proven in the past and will continue to do so.
The entry price to purchasing properties in these select areas will also be higher, so one has to weigh the potential against the purchase price.
As elsewhere throughout the world, in simple terms, properties that enjoy a waterview tend to do well in Australia. Sydney property hot spots like Bondi and the Northern Suburbs have enjoyed consistent capital growth. Other factors include proximity to amenities, including schools, shopping and public transport.
People are still underestimating the value of access to good public transport. The price of oil and parking in the city centres are all going one way, which is up.
Sydney, for example, has pretty harbourside suburbs with ferries always having been a popular and convenient way to get around the city. This adds to the popularity of the harbourside suburbs.
The Sydney beach side suburbs and other Australian cities have potential to do well.
Historically, the capital cities in Australia all were built on a river near the ocean, so all of them have waterviews available.
The only exception is Canberra itself, but being the capital of Australia means it has a strong infrastructure and therefore will be attractive for buyers.
Investing in a profitable rental property that will enjoy good capital growth is different from purchasing a home to live in, it is important to consider the person who will one day wish to buy your investment property from you, at the price you want. Moreover, there are other factors to consider. This is where the help of a professional real estate agent and other advisors are helpful.
Areas that have strong tourism are also desirable for Australian property investment. They are usually by definition attractive areas in themselves, with close proximity to scenic national parks or long sandy beaches and beautiful coastline, or famed wine growing areas.
There are many beautiful areas to live in Australia, but an investment should not be considered along the same lines of buying your own home, but for the eventual capital growth.
Australia Tourist Guide