Australia Property Market Overview

In 2008 the Australian property market has clearly hit a top and prices softened, this is continuing in 2009.

The Australian property market is well developed and is underpinned by a generally strong economy, huge natural resources and increasing population.

The high prices and the tightening credit environment leave little hope for price growth in the near future.

In the medium term the economy is likely to perform well, better mortgage finance will return and immigration will always mean demand for homes will be healthy.

Unless one lives in the region, or has relatives there, it may be more practical to invest closer to home. That said when the market is performing well it cannot be discounted.