Fresh statistics released by The Reserve Bank show that lending to property buyers in New South Wales has increased by an incredible 150 percent in the last three years, as more property buyers look to establish themselves on the real estate ladder in Australia.
On the back of surging house prices, and new record low mortgage rates as low as 2.25 percent, it seems as though buyers are placing their faith in the Australian property market, and it is easy to see why.
Along with New South Wales, lets take a look at our top three areas for real estate investment in Australia:
The capital of New South Wales and obvious choice, Sydney is the most populous city in Australia and famous around the world for its city culture and famous landmarks attracting millions of tourists every year.
An area of such huge popularity amongst tourists will naturally result in a boom in rental profits and a strong housing market. With a strong finance, manufacturing, and tourism market, Sydney is one of the top cities to invest in, and with good reason – Sydney is simply beautiful.
With a booming housing market and high yearly price increases, Melbourne is the ideal city for investment with fast returns almost guaranteed due to the increase of buyers.
A great walking city, and superb setting for bringing up a family or enjoying all year round life in Australia, Melbourne is the second largest city in Australia and one that is famed for its love of sports, being home to the Australian Open tennis tournament, Formula One circuit, Cricket, and much more.
Voted the sixth best city in the world to live in, Adelaide is awash with life from the offset and is the capital city of the state of South Australia. With a large population of around 1.29 million, this working city acts as the commercial centre of South Australia.
Australians love Adelaide so much so, it has actually been voted the most livable city in Australia by the Property Council of Australia in three out of the last five years. With lots of culture, entertainment, sports, and great education and transport facilities, Adelaide is a lovely city to live in and make a family a family.
Once you have decided on exactly where you want to buy, you have half the battle won. The next step is to look at financing and the logistics of purchasing, make sure that you get the right loan and advice when buying a home for the first time. Statecustodians.com.au is Australia’s most awarded non-bank lender to buyers, offering a full range of solutions for Australians.
Of course, listed here are only three cities, we could go on forever talking about where one might want to live in this wonderfully open and stunningly beautiful country. Some other great cities that didn’t make our cut include: Perth, and Brisbane.
Have you purchased a home in Australia recently? We would love to know where you decided to buy and why, let us know in the comments below – we would love to hear your thoughts about your decision to buy.