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Australian property market gaining momentum

Now is the time to buy property in Australia, according to one report.

The commercial property market in Australia will benefit from an increase in foreign investors this year.

A report by First National Real Estate titled the Mid Year Outlook revealed that the past six months have made Australian property an attractive investment for overseas buyers, marking now as the time to buy.

The report was based on a poll of more than 400 member agents and suggested that the housing market will strengthen even further in the second half of this year.

Teamed with record low interest rates, which are expected to stay that way for some time, the market is gaining momentum.

“Although pockets of our membership anticipate soft trading conditions for the next few months, a clear majority is optimistic that the federal election will bring a change of government as well as a positive change in their property markets,” said Ray Ellis, chief executive officer of First National Real Estate.

Posted by Ravin Chatlani

- property, commercial, interest, rates, foreign

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