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Coastal properties to recover

Coastal properties to recover

Experts say coastal housing markets could soon see a recovery.
<div $$hash="8516-0"><p $$hash="8515-0">Property investors could profit from coastal housing again according to property analysts RP Data.



<p $$hash="8536-0">Senior economist Tim Lawless told The Age: “We might be seeing a bit of a turnaround in interest levels in lifestyle property, particularly across the more affluent parts of the population.”



<p $$hash="8535-0">He said that this was due in part to a rise in the sharemarket, strength in the employment market and more equity. However, he felt that a full recovery could be gradual.



<p $$hash="8547-0">Recently, the Australian Bureau of Statistics (ABS) said that unemployment levels were at 5.4 per cent. This is particularly low compared to other economies worldwide.



<p $$hash="8549-0">Monetary easing has helped people to gain equity as interest rates on loans are now much lower. The Reserve Bank of Australia (RBA) has decided to hold its benchmark rate at three per cent after cutting it by 1.7 per cent since 2011.



<p $$hash="8551-0">The RBA has said that it has seen improvements in the economy since the rate cuts. This has, in turn, boosted the property market across Australia.



Posted by Ravin Chatlani

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.

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