Australia is not just a country. It is a continent unto itself, covering 7,682,300 square kilometres of land area. This sheer vastness has its downside. For one thing, it will take you ages to complete an epic road trip of its entire coast.
However, it has its perks, too; think of the almost inexhaustible property to be had. Now if you are a glass-half-full kind of person more interested in expanding your horizons via property investment and could not care less about an epic road trip, equire.com.au cites below what you need to know.
Real Estate Market Prognosis
Australia’s residential property developers are having a field day. This is because of a positive prognosis from the BIS Oxford Economics. Between 2018 and 2021, the country’s residential property market is set to command considerable growth.
The top three growth hubs include Brisbane (13%), Canberra (10%), and Perth (9%). Now if you prefer some alternatives to these metropolises, you can always set your sights on some up and comping areas.
Up and Coming Hubs
Robert Mellor from BIS Oxford Economics and Peter Wargent from AllenWargent have weighed in on the matter. Australia’s next big thing in terms of residential property includes New Farm, Hobart, Sunshine Coast, and the Gold Coast.
Several factors predicate their inclusion in this list. For one thing, these areas have all recently benefited from large infrastructure spending, which means an improved way of living for its current and would-be residents.
Australia is the world’s seventh largest country in terms of land area. But only 10% of its actual land mass is considered habitable.
Despite this, the country has no shortage of land worthy to be developed for real estate purposes. Rest assured that as soon as you are ready to claim a portion of the country for yourself, there’ll be a piece of it waiting just for you.