Value of housing property has dropped across all over Australia, with cheaper interest rates of mortgages you can say that it is the best time to buy. According to surveys there will soon be a growth in the market nationally. If we see some more rate cuts more and more people will be ready to afford home loans. In the future there may be greater home loans on offer.
Darwin is the fastest growing capital city, according to data from the Australian Bureau of Statistics. No doubt that many people are moving to Darwin, with the median house price less than the national median. Thus, buying a house in Darwin can be a great investment opportunity. Houses in Adelaide are slightly more expensive than Darwin.
Melbourne is Australia's second-largest city and the third-cheapest for house prices. Melbourne is quite charming and livable city in the world. As a result, houses in Melbourne are selling relatively fast as compared to other capitals. There are good prospects for renting suggesting Melbourne as a good city for investment properties.
Canberra shows a drop in prices and high rental yields; Canberra that is the political centre of the country and a tourist place, it has good prospects for investment in property.
Perth is Australia's second-most expensive house market carrying more than the national median. It might be considered as a good city to buy in for residential purpose but may be less attractive for a rental investment.
Sydney houses are the most expensive in Australia and the city has recorded a substantial increase in values. The rental market yield in Sydney is 4.63 per cent and this figure could continue to rise. Sydney has a good ranking for its quality of living, so if you have a higher disposable income it might be a good place to go.
Research well in advance and make sure you get sufficiently informed from various sources if you are bearing in mind buying a property in one of Australia's capital cities.
About the Author
Max is a Mortgage Broker who has specialized in no deposit home loans for over 5 years. http://www.homeloanexperts.com.au