The Australian property market has seen a modest slow down according to the latest data from RP Data-Rismark. At the same time a survey revealed that overseas buyers from South East Asia regarded Australian real estate as the most desirable for investment.
Westpac Economist remarked that "The latest monthly data on Australia's housing market is a little tricky to reconcile with auction clearance rates hitting new highs in Sydney and recovering solidly in Melbourne, and a range of other market metrics pointing to continued recovery but a notable decline in prices through April-May,Ã¢â¬Â
PropertyGuru, an Asian online property group surveyed 1,282 respondents who indicated an intention to purchase overseas properties in the next six months, more than three out of 10 highlighted Australia as their choice destination.
Overseas buyers that considered Australian property came from Singapore, Malaysia, Thailand and Indonesia
So why Australian real estate?
The chief motivation factors which influenced the decision to invest included, the perception that Australian properties garner higher rental yields and better capital appreciation (46 per cent), as well as the perceived affordability of overseas homes based on comparatively cheaper prices (55 per cent).
Despite how South East Asians view Australian real estate there is talk of a housing bubble and this has come from The Economist. The magazine 2013 housing index states that Australia has moved from fifth to fourth most overvalued global property market but the overall risk of a housing bubble has subsided.Whatever the true picture Australian real estate has strong demand from both Australian and from international buyers.