Why This Could Be Perfect Time To Buy Property in Australia

If you’re thinking of buying a
property in Australia, a leading news agency reports that a range of factors
have made summer 2012 ‘perfect conditions’ for doing so.  News.com.au says that more and more areas
of the country are becoming ‘buyer’s markets’ thanks to interest rate cuts,
weak auction sales and a high choice of available homes.

Keep reading to learn more about
the promising housing market in Australia.

Queensland and Tasmania offer the best buying conditions

The latest Commonwealth Bank Home
Buyer Index, produced in conjunction with RP Data, shows that more and more ‘bargain
suburbs’ are emerging throughout Australia. 

RP Data national research
director Tim Lawless said there are more than 300,000 properties listed for
sale in Australia and that the market was favouring buyers.  Commenting on the latest figures, he
said: “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 index was calculated
comparing the number of properties available for sale with demand for home loans
through the Commonwealth Bank – Australia’s largest home lender. 

Nick Marr, director of international
property specialist 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.”

News.com.au reports that ‘the
index found the number of homes advertised for sale in Queensland and Tasmania
outweighed demand and all other states were starting to become buyer’s markets.’  So, if you’re looking for a property in
Hobart, Brisbane or on the Gold Coast, now could be the time to buy.