Australia’s housing market continues to grow stronger and is anticipated to remain a strong contender for drawing property investors in the upcoming year. Australia and Canada have been competing neck and neck but it seems that Australia is pulling away as Canada’s real estate sales are cooling down.
Due to low interest rates as well as economies beginning to recover, global markets have seen some rebounding this year. It has been reported that house prices rose in six of twelve industrialized countries, including Australia, Canada, France, Sweden, Switzerland, and the U.K.
Low interest rates and a strong and stable economy attract first time buyers as well as property investors looking to capitalize on the real estate market’s abundance of affordable homes. Investors have confidence that their investments will yield good size returns in years to come as the property market continues to grow strong and house values rise.
Some of the success of the property market will depend on factors such as job growth as well an income growth. Interest rates and lending rules play important roles as well. Interest rates are expected to stay relatively the same throughout next year which will help keep the market stable. Australia seems to be doing well as solid job growth is reported and high demand comes from Asia.
Other areas of the world are seeing some growth as well. The U.K. and Swiss markets are seeing some recovery and it is reported that Sweden is actually experiencing somewhat of a mini-boom. In Italy house prices are dropping some and the U.S. market is becoming more stable.
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