Global Power | Local Knowledge | Uniquely Personal
All Articles News FAQs Videos
中文

Buyers 'may be returning to the property market'

The number of people purchasing property in Australia could increase as house prices continue to soften, it has been suggested.
The number of people purchasing property in Australia could increase as house prices continue to soften, it has been suggested.

Australian house prices have continued to soften in recent months, which could increase the number of people purchasing property in Australia, it has been suggested.

Smartcompany.com.au reported on new Residex figures, which showed that house prices in the country increased by just 1.1 per cent last month and only 3.4 per cent in the second quarter of 2010.

The strongest price growth was recorded in Sydney at three per cent, which suggests that this could be the most popular place for Australian property investment.

Median values in the city now stand at $677,000 (£392,465) for houses and $465,000 (£269,566) for units.

"I think there are a lot of sellers out there and they are starting to reduce their prices because they think they'll be able to sell the house at that particular price," Westpac economist Matthew Hassan told the news website.

Last week, the Sydney Morning Herald reported property investor Jeremy Grantham as saying he was confident that house prices in Australia would soon fall.

Posted by Steve Douglas
- property, market, prices, sales, housing

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact info@smats.net.

中文

Subscribe Now