| Throughout 2009, it had been noticed that Australian | | | | vacancy rates in most states in the nation. This is all |
| property prices were continuing to go up in value. | | | | good news for people thinking of buying an |
| The first half of 2009 was a bit dodgy, as we all | | | | investment property. Property experts have been |
| remember, with definite peaks and troughs in the | | | | predicting for a while that the needed amount of |
| property market statistics. But by late 2009, Sydney | | | | housing to be able to keep up with demand will not |
| and Melbourne in particular had really lifted their game | | | | be nearly enough in the forseeable future, which |
| with increased activity in the market. | | | | means that housing availability is going to decrease, |
| The First Home Owners Grant got dumped in late | | | | meaning that property prices are going to go up, |
| 2009, and that was a pretty big deal and at first had | | | | specially during this year. |
| a bit of an effect on investors. However long term, | | | | Melbourne in particular is set to experience capital |
| this is unlikely to affect the market in any great | | | | gains to put a smile on a landlord or investor's face in |
| shape or form, as property investors and home | | | | 2010, as property trends are all suggesting that |
| owners alike get back into the market. | | | | vacancy rates are going to be peaking at about 8 |
| The news is all good: prices are set to increase. | | | | percent. |
| Property experts say that in terms of a 12 hour | | | | Melbourne actually smashed it in 2009, with statistics |
| property clock, if boom is midday and the low point | | | | for house prices up by a massive 14.9 %. |
| is 6am, then we are approximately 7am. Meaning: | | | | Why is this? Why is Melbourne caning it? It's basically |
| time to get in to the market, and it's still ahead of | | | | because the population of Victoria is increasing. In the |
| the 'sheep' who will only figure out we are in a boom | | | | first half of 2009, 114,000 people moved to Vic - and |
| when it gets to 11am, when it's almost too late! | | | | lots of them wanted to either buy a property or rent |
| Did you know a bunch of TV shows on property are | | | | a house in Melbourne itself. |
| slated from all the major networks this year? That | | | | Statistics like this equals boom. That is - property and |
| means, The Block and similar sorts of programmes. | | | | house prices went up, and we also saw rents going |
| What do you think that will do to the market? | | | | up, as demand outstripped supply. |
| Correct. Another boom! | | | | Experts forsee big changes ahead for Melbourne as |
| The December 2009 ANZ Australian Property | | | | the constant demand for housing in the inner suburbs |
| Outlook predicted that economic growth is in the | | | | continues to boost the property market. There are |
| limelight, due to the extremely high population growth | | | | loads of huge projects on the go, like new roads, |
| that Australia is experiencing. | | | | new transport infrastructure, all of which mean more |
| This means we are also seeing an increase in the | | | | housing development in the satellite suburbs of |
| number of new buildings, as well as and strong | | | | Melbourne, particularly around the new Regional |
| developments in the mining and infrastructure | | | | Railway Express project that is occurring in the |
| industries. | | | | regions of Geelong, Ballarat and Bendigo. |
| If you are into property investing or thinking about | | | | These country towns and larger regional areas are |
| increasing your property portfolio, all signs point to | | | | going to be much more linked with Melbourne in the |
| 2010 and 2011 being fantastic years to do it in. | | | | future, by train and road, and so demand will increase |
| The national median for the average house price has | | | | in what is predicted to be a growth corridor. |
| risen by 10% in the last part of 2009, and of course | | | | There is definitely no need to be depressed about |
| random world events could happen at any time to | | | | the housing market in Melbourne in 2010, as it is is set |
| shake the predictions we make with our 'best guess', | | | | to be good year on all fronts. Prices are expected to |
| but interest rates seem to be stable enough at the | | | | hold or rise. |
| time being to make it worth the risk of getting in to | | | | As of writing, we are halfway through 2010 already |
| the property game slightly ahead of the sheep, and | | | | and the stats will be about 6 months behind. But |
| therefore slightly ahead of the massive boom | | | | seriously? 'Property will never be this cheap again.' |
| experts agree we are poised for in Australia. | | | | And that last statement has been true since about |
| Last year we saw almost record breaking low | | | | the year dot! |