The Australian property market has seen a
modest slow down according to the latest data from RP Data-Rismark. At the same time a survey
revealed that overseas buyers from South East Asia regarded Australian real estate
as the most desirable for investment.
Westpac Economist remarked that
“The latest monthly data on Australia’s housing market is a little tricky to
reconcile with auction clearance rates hitting new highs in Sydney and
recovering solidly in Melbourne, and a range of other market metrics pointing
to continued recovery but a notable decline in prices through April-May,ââ¬Â
PropertyGuru, an Asian online property
group surveyed 1,282 respondents who indicated an intention to purchase overseas
properties in the next six months, more than three out of 10 highlighted
Australia as their choice destination.
Overseas buyers that considered Australian property
came from Singapore, Malaysia, Thailand and Indonesia
So why Australian real estate?
The chief motivation factors which
influenced the decision to invest included, the perception that Australian
properties garner higher rental yields and better capital appreciation (46 per
cent), as well as the perceived affordability of overseas homes based on
comparatively cheaper prices (55 per cent).
Despite how South East Asians view Australian real estate there
is talk of a housing bubble and this has come from The Economist. The magazine
2013 housing index states that Australia has moved from fifth to fourth most
overvalued global property market but the overall risk of a housing bubble has
subsided.
Whatever the true picture Australian real estate has strong demand from
both Australian and from international buyers.
