Australian property purchasing costs have "increased significantly", with expats in the UK finding it particularly expensive to return down under, one property journalist has said.
Prices for Australian homes have appreciated to almost double figures in some parts of the country, explained Marc Da-Silva, pushing the cost of buying up.
For those buying from the UK, the fall of the pound against the Australian dollar has provided further difficulties, he continued.
"It has been a double dip in the sense that, [due to] the higher property prices and lower currency exchange rates, the cost of buying property in Australia has increased significantly," Mr Da-Silva said.
The latest RP Data-Rismark National Home Value Index showed that Australia house prices increased by 1.8 per cent in January and by 2.4 per cent in the final quarter of 2009.
It predicted the double-digit capital gains from last year would start to moderate to more realistic levels in 2010.
Posted by Steve Douglas
Prices for Australian homes have appreciated to almost double figures in some parts of the country, explained Marc Da-Silva, pushing the cost of buying up.
For those buying from the UK, the fall of the pound against the Australian dollar has provided further difficulties, he continued.
"It has been a double dip in the sense that, [due to] the higher property prices and lower currency exchange rates, the cost of buying property in Australia has increased significantly," Mr Da-Silva said.
The latest RP Data-Rismark National Home Value Index showed that Australia house prices increased by 1.8 per cent in January and by 2.4 per cent in the final quarter of 2009.
It predicted the double-digit capital gains from last year would start to moderate to more realistic levels in 2010.
Posted by Steve Douglas
