UCHK Consulting has reported that the Australian property market in 2013 soared ahead of expectations with some cities recording up to a 14.5% increase with foreign investment a contributing factor.
Docklands, VIC -- (SBWIRE) -- 01/03/2014 -- UCHK Consulting are Australian property experts who consult to Australian Immigration. Of the recorded capital growth rates UCHK CEO Scott O. Talbot said: “The national affordability factor and immigration trends are as important as the recorded increase in property values and will play an important role in future potential for capital growth”
Understanding or predicting the Australian real estate market is about immigration policies and overseas investors opinion of Australia’s economic prosperity. Australia is one of the only nations in the world that can boast a thriving ‘Third Economy’ based on immigration that dramatically influences property values.
Australia undeniably wins in popularity. Walk down a street in any country in the world and ask a simple question: “Today, we are handing out passports. Which country would you like to live, work and raise your family?” The response is more likely Australia.”
Australia is a nation built on immigration. Nearly 50% of Australians are either born overseas or have a parent born abroad. It has become a leading country because many ethnic groups have enriched it culturally, socially and economically. The Australian government wants 200,000 more immigrants per year for population, participation, and productivity growth.
Australia’s economic policy and real estate capital growth is joined at the hip with immigration. “Immigration is the single most important factor that secures Australia’s ‘Third Economy’ and a future of sustainable real estate capital growth” said Scott O. Talbot.
The popularity of Australian real estate investments from China and South East Asia has spanned two decades and immigration is expected to continue be the major influence in 2014.
AUSTRALIA'S MEDIAN HOUSE PRICES IN 2013
Sydney rose 14.5% to $655,250
Melbourne rose 8.5% to $563,000
Darwin rose 3.3% to $540,000
Canberra rose 3.5% to $530,000
Perth rose 9.9% to $520,000
Brisbane rose 5.1% to $445,250
Adelaide rose 2.8% to $386,000
Hobart rose 2.2% to $330,000
Capital city aggregate rose 9.8% to $540,000
Source: RP Data