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As an Australian expat reading the news headlines you’re most likely hearing the negative sentiment and mixed reviews on the Australian property market. In this blog, we debunk three common myths.
1. Australian property is too expensive.
Australia‘s a big country with many markets to invest in. Yes, Sydney and Melbourne can be considered expensive and they are currently at the peak of the property cycle. However, there are other markets in the growth stage such as Canberra, Hobart, Brisbane and Adelaide that present great investment potential.
Below is a snapshot of each capital city, CoreLogic 19th March 2017, or watch our short video.
2. Will the market crash?
The Australian property market has followed similar property cycles for the last 30 years and there will always be ups and downs. When one particular market loses its steam and plateaus - or even decreases, there are other markets that are rising. It’s about applying the right purchasing methodology to ensure you ride the wave out.
3. What if interest rates go up?
Australian interest rates are at all time low’s, so yes, it’s inevitable they will. What you may not know is, banks will lend based on your ability to cover eight interest rate rises (25 basis points each). This ensures that your current serviceability will handle interest rate rises in the future.
Milk Chocolate purchase residential and commercial property in Australia on behalf of Australians living abroad, looking for a home or investment property. To see how we can help you get in touch here.
To read more news and information on the Australian property market visit our news page here.
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