Overall, The Australian Property Market Has Proved To Be Very Resilient With Falls Far Less Than Expected
The majority of property falls in 2008 were less than 2% and when you consider that in America falls have been up to 40%, this is a very happy outcome for Australian home owners and investors alike.
Economic uncertainty is now the major player in stopping many investors getting back into the market. House prices are excellent and interest rates are even better, but it is the state of the economy which seems to be holding buyers back.
It is still a given that the more affluent areas are going to continue to suffer price decreases, or at least flat prices during 2009 and properties in the tourist areas will also be affected.
So where are the areas that are of most interest and which are expected to increase during 2009?
• Iluka, Nth Queensland
• Nambour, Sunshine Coast, Queensland
• Mt Barker, Adelaide, South Australia
• Ballina, Northern NSW
• Hayborough, South Australia
• Thuringowa Central, Townsville
• Cape Woolamai, Victoria
• Wonthella, Western Australia
• Upper Burnie, north coast Tasmania
• Esk, SE Queensland
• Tully, Nth Queensland
• Woolgoolga, Central NSW
• Ocean Grove, Victoria
• Cranbrook, Nth Queensland
All these areas have certain criteria that makes them appealing and it will be a matter of working out if they fit into your business plan.
Filed Under: Property Investment • Property Investment Tips
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[...] Investments in property can be beneficial at almost any age. As you get older, if you intend to continue to working and keep building your assets then there is no particular reason why you should not invest either. Over a 10 year period, history has shown that profitable amounts of money can be made and in today’s property climate, with the lower property prices, there seems to be no reason why that should not continue, give or take a year or two. [...]