Australian property market 'remains strong'

Individuals looking to make a money transfer and invest in property abroad may want to consider Australia.

According to editor of Australian Property Investor Eynas Brodie, the country has one of the strongest housing markets in the world in terms of growth value.

She noted that the stable economy, low unemployment rate, undersupply of housing and tightly regulated lending practices keep the sector afloat.

Ms Brodie commented that these factors are "key fundamentals" that see the housing market "holding firm while others around the world decline in value".

Sending money to Australia and purchasing a second home in the country may be a wise choice for those hoping to gain a return on investment in the future.

This is due to Ms Brodie stating that once confidence in the market comes back, demand for property will begin to increase in the long term.

"In the short term the Australian property market, generally speaking, is likely to remain flat until consumer confidence recovers from the volatility we've been witnessing in both the global economic environment and the share market," the expert noted.

However, she acknowledged that prices should begin to rise as interest rates remain relatively steady and there is a "massive mining boom about to get into full swing".

In essence, Ms Brodie claimed the "economic fundamentals" of Australia "remain strong".

It was suggested that households in the nation are saving more than they have in the past 20 years and so individuals are likely to feel comfortable spending again when confidence returns.

The comments came after European sales director for Atlas International James Dearsley recently stated that now is a great time to invest in the overseas housing market.

He claimed this is due to the low prices and numerous opportunities for good return on investment.

Posted by Jennifer Wilkinson

Click here to make an International Money Transfer to Australia.