The market for Australian property continues to be healthy, despite a recent rate rise in the country, as overseas property investors hunt for emerging markets.
Suburban areas have reportedly been proving popular, owing to the affordability benefits available in these locales, with Beenleigh, Bulimba and Paddington in Brisbane key examples.
Other areas which have been attracting attention are Elizabeth and Norwood in Adelaide, Richmond and Carlton in Melbourne and Balmain in Sydney.
According to OPP magazine, lifestyle factors such as access to beaches, rivers or golf courses are currently interesting investors on the lookout for new ventures, as well as concerns regarding transport infrastructure and proximity to business districts.
The new Geelong Bypass has reportedly aided an increase in popularity of the Surf Coast south of Melbourne, for example.
Darwin and Perth, on the other hand, have attracted interest from overseas property investors owing to a recent commodities boom in the area which has led to heightened prosperity.
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Carol McDonald