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

Wednesday, 1 August 2012

Australian cities see home prices rise for first time in almost two years

According to the latest statistics published by the Australian Bureau of Statistics(ABS), house prices in eight of Australia’s largest cities have increased by 0.5% in the second quarter of this year in comparison to the first three months of 2012. Since the December quarter of 2010 this is the first time house prices have risen.

The ABS statistics show that the biggest increase was 5.1% in Darwin. The next largest increase was seen in Sydney where they have risen by 1.4%, then in Perth they increased by 0.6% and in Adelaide they increased by 0.5%.

Brisbane only witnessed a marginal increase of by 0.1%, while elsewhere prices fell. The steepest fall in house prices was seen in Canberra where they fell by 1.3%, followed by Melbourne and Hobart where prices fell 0.4% in both cities.

Andrew Harwvey, senior economist for the Housing Industry Association (HIA) said that, 'The figures may be an indication that we are returning to an environment of housing price growth in some of Australia’s major housing markets. Given that housing affordability is at its highest level in more than two years the result is not a surprise as good earnings growth and interest rate cuts may mean the end of the modest correction we have been seeing in house prices'.

He added that, 'The data will be yet another blow to the housing market doomsayers that, against all available evidence, continue to portend a collapse in Australia’s housing market. The fundamentals of Australia’s housing market remain very strong. Rents continue to grow at a rate well above headline inflation, rental vacancy rates are tight, and Australia’s unemployment rate remains the envy of the developed world”.
If you are thinking of moving to Australia and need a mortgage in Australia... visit us at www.mortgagesoverseas.com

OR if you are happy in the UK but are thinking of moving house and need conveyancing, visit us atwww.helpfulconveyancing.co.uk to compare conveyancing prices to find the best deal in your area.