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Fast facts about the Australian property market
Investors should be equipped with a good working knowledge about their potential investment asset before purchasing anything – and when it comes to property, it’s important to become acquainted with the Australian property market.
Fast facts about the Australian property market
Investors should be equipped with a good working knowledge about their potential investment asset before purchasing anything – and when it comes to property, it’s important to become acquainted with the Australian property market.
Here are 10 fast facts that will give you a snapshot of how real estate markets are doing in Australia.
- A 2011 research found that 65 per cent of Australians own their homes in full or partially and that the level of ownership increases with age.
a. 24-year-olds and younger tend to rent their place of residence. b. About half of those aged between 25 and 35 own or are buying their home, while the other half are renting. c. 85 per cent of Australians aged 75 and above own their home outright, while only about 3 per cent still have some mortgage to pay. d. Less than 10 per cent of pension-age Australians rent. - According to the 2018 Investor Sentiment Survey by the Property Investment Professionals of Australia, 36 per cent of first-time home buyers would prefer to invest in a property than purchase their own residence.
- Less than 8 per cent of the Australian population are property investors, and majority only own one investment property.
- For the third year in a row, Canberra has been voted as the people’s choice for Australia’s “most liveable city”. The rankings are as follows:
1. Canberra 2. Perth 3. Adelaide 4. Brisbane 5. Hobart 6. Melbourne 7. Sydney 8. Darwin - Among the capital cities, Canberra has shown the strongest annual growth. It is also ranked as the second least affordable place to live in, next only to Sydney.
- The most expensive rental properties for the quarter ending March 2019 are in Canberra – with median house rent price at $570 per week and unit rent price at $465 per week.
- Meanwhile, Perth is the most affordable city to live in with median house rent price at $365 per week and unit rent price at $300 per week.
- 70 per cent of investors in Western Australia consider Perth (the second most liveable city) as the most appealing city for investment.
- Approximately 60 per cent of home loans in Australia are settled through mortgage brokers.
- Fractional investing is the new trend in Australia, and it appeals most to male investors aged 18 to 34 years.
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