Growth in China affecting Australian Property
Although Australia (and the rest of the world) has been experiencing a major financial downturn, it is predicted that in terms of the infrastrucure boom in China, worldwide financial troubles are a mere hiccup to the plans that are set for China’s growth between 2005 and 2020. These are long term plans by China and it would have to be taken into account that somewhere along a 15 year term there would be some financial slowdown.
China has got its teeth into restructuring the country; it is a rich country and will forge ahead.
What this downturn has meant for Australia is a slowdown in mineral exports and the run on effect has been the closure of some smaller mines owned by smaller operators, operators who did not have the backing of years in the business that the likes of BHP and Rio Tinto have.
So if you own property in mining towns you will need to weigh up your personal situation, the future prospects of the town and see if it is a viable option to try and hold on to your property.
Filed Under: Property Investment Tips
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