Negative perception only grows the more days a house is on the market and it can only mean one thing – downward pressure on pricing. Realistically the demand falls on a property after its been listed for more than a month and only continues on a downward trend until it can attract a new buyer at a lower price point.
Foreign investment in Australia has received considerable focus in recent years even though it has been a longstanding feature of Australia’s economy and by extension, the property market. Under Australian law, non-residents are able to purchase newly constructed residential real estate in Australia.
On the surface, cruise ship arrivals may not seem to provide the sort of information a property investor needs. However, this statistic is a part of a larger story, giving insight into the local economies of some Australian coastal towns. One factor common to these areas and other regional-coastal locations is that tourism contributes heavily to the local economy.
Performance Data use the Internet Vacancy Index (IVI) from the Department of Jobs and Small Business as an indicator for job creation trends on a city and regional level. The IVI is released monthly and collated using advertised job vacancies over the three major job boards: Seek, Career One and Australian Jobsearch. It was first published in 2010.
Over recent years the level of investor participation in the national housing market has hit historic high levels and the release of the 2016 census data confirms a shift towards renting, with nearly 31% of Australians now paying a landlord, up from 29.6% from the last census in 2011 and under 27% in 1991.