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« Back to articles from category "Real Estate"

The following article was published in our article directory on June 27, 2012.
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Australian Real Estate : On the Recovery

Article Category: Real Estate

Author Name: Taylor White

Australian Real Estate Market selling prices are actually likely to weaken further given that the rates of interest have been increased by the Reserve bank of Australia. This is actually a sharp distinction to the foreign property market, where the actual state of affairs in the marketplace is certainly improving because the actual interest levels are actually the most competitive ever.

Body :

Ever since the elevated rates of interest were announced by the Reserve bank of Australia in the month of May this present year, the actual real estate market here in the Australian continent has seen a decrease when it comes to the prices for all the residential home property. Additionally, the investor confidence for the actual Australian properties on the market is generally going down. The real estate market in Australia has seen lower sales and as a consequence this has become the subject of popular arguments throughout the media and even the internet.

Australian real estate research organizations which include Rismark international and also BIS Shrapnel have in addition verified the softening of all of the real estate in Australia price ranges. Around the August month the particular average value for any property or house has actually dropped and then remained at $450,000. But then the actual property or real estate firms expect that all of the softening of the actual selling prices will be for quite a limited time only as the essentials of the economy in the country are already going up and it has in fact recovered from the bad economic downturn that was severe during 2008 – 09. In addition there is insufficient supply for the property or real estate market of Australia and perhaps this is going to put forth a lot of upward force for all the going prices to be able to go up within the last quarter of 2010.

Despite the fact that the actual prices were actually down in the third quarter of 2010 for all the eight main cities of Sydney, Australia, including the financial capital cities of Sydney and Canberra, the selling prices are nevertheless higher by about 8% from the year before. And even though the Reserve bank of Australia has increased all of the rates of interest from the month of May, experts are predicting that the interest levels would increase by an extra twenty-five basis points. This may bring about further depreciation of the selling prices unless of course there are a demand in the supply in the property or real estate market of Australia.

The Australian government has also put a stop to the first-time home buyer grant and home loan approvals have substantially decreased by about 5% in August this year, when compared with 2009. The first two quarters this current year has undergone a phenomenal increase that started off during the 3rd quarter of 2009. The growth in real estate in Australia was approximately fifteen percent after the adjustments in inflation as well as the periodic terms. The interest rates were actually increased in order to stop the real estate market downfall which has prevailed all over the European countries as well as the real estate market of the United States of America.

The rentals in Australia have really fallen slowly this specific year and now stand around 4.3% as compared with approximately 8 percent in 2009. The Australian rentals specifically in Sydney are really lower and even in line with the worldwide rentals this season.

Keywords: Australia real estate listings, Australia real estate for sale, Australia real estate

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