Property Market Set to Boom

The Australian resources boom has propped Australia up and kept the dollar at a high, but this will eventually begin to subside.

When this does happen different areas of the economy will need to pick up in order to sustain the financial strength that Australia now holds.

With interest rates so low at present, one area that does seem set to grow as mining subsides is the property market.

With populations growing in most of the capital cities it seems that there is potential for investors to capitalise in this market. Construction is lagging behind, so demand will continue to increase as the low interest rates tempt people to buy instead of rent.

Sam Saggers, from Positive Real Estate, said that the property market is constantly changing, compared to the slowing commodities and mining industries. He explained that massive growth in metropolitan areas is expected for the real estate market based on current indicators.

It seems likely that Australia will soon witness a housing boom that will help to strengthen the economy as mining declines. Just make sure you get on the property ladder before the boom comes!


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