Have you always fancied relocating down under? Has the prospect of purchasing a home in Australia crossed your mind on multiple occasions? Is there something about the idea of living in Oz that you find particularly appealing?
If so, a top news organisation has reported that thanks to a combination of several factors, the summer of 2012 is presenting ‘perfect conditions’ for investing in Australian property. News.com.au has stated that, due to poor auction sales, a huge choice of available homes and reductions in interest rates, a larger proportion of Australia is transforming into a ‘buyer’s market’.
An increasing number of ‘bargain suburbs’ are appearing across Australia, the latest Commonwealth Bank Home Buyer Index (in conjunction with RP data) has revealed.
Tim Lawless, national research director for RP data has mentioned that there are more than 300,000 properties in Australia for sale and that, right now, the market is favouring buyers and investors in Australian mortgages. “It really does suggest there are a lot of properties that are for sale at the moment. Stock levels remain high across each of the capital cities so prospective buyers have a good range of housing options to choose from.''
The Commonwealth bank - Australia’s most prominent home lender, provided information to calculate the index where the number of properties available for sale were compared to the demand for home loans.
Nick Marr of HomesGoFast.com said “These figures show that it is now the perfect time to buy property in Australia. There have been modest gains in house prices over the last quarter but with a wide choice of homes to choose from, buyers are increasingly in a position to drive a hard bargain.”
So if you are interested in investing in Australian property, buying a house in Australia or taking out an Australian mortgage, get in touch with Conti - Mortgages Overseas by exploring our website ( www.mortgagesoverseas.com) or via telephone on 08009700985