Hi All,
found an interesting article today in the Australian News about rent prices in Sydney that may interest those expats moving back to Australia or those of you migrating to Australia
Landlords warned on rent hikes
The story highlights the chronic shortage of Australian Property at the moment and whilst Sydney is experiencing falling house prices, rental yields are going through the roof due to lack of investors in the buy to let market, low affordability of Australian homes for first home buyers, and the credit crunch and higher interest rates taking hold of those coming off fixed term mortgages faced with the real possibility of repossession of the family home.
The Sydeny rental market was like this after the 2000 Sydney Olympics but that is when people could borrow money freely and what resulted was a property boom of epic portions,
Do we expect the same to happy in 2008 - i don't think so - finance is only available for the cash rich.
Read the story and please leave comments on the blog to get a bit of a chat going for us Australian Expats living in London
Buy for Now
IMS Foreign Exchange - Visit us to Buy Australian Dollars at the best exchange rate
Buy Euros before Ireland Defaults?
14 years ago
Posts
1 comment:
it may be tumbling, but overall that has to be good for the economy, right? I mean, look at our primary producers. Surely these guys need all the help they can get right now. I've been watching it closely on http://www.forexrate.com.au for the last few months now and it gives me a little relief. Glad I'm not renting in Sydney though!
Post a Comment