If you’re an Australia permanent resident and property-owner, you might be considering buying an investment property to rent out (or even letting your own). With yields ranging from 3.3% to 5.8% in the country’s major cities, there’s a real potential to get strong returns on renting out your property in Australia. As with many legalities, there are slight differences between various states and territories. Today, we’re covering the main areas you need to know, no matter where you are in Australia. Find out about tenancy types, rent regulation, lease agreements and more.
Australia has more UK expats than any other nationality and many of these expats find their way to Sydney to work, raise children and retire. Sydney is a dynamic and world-class city, it is surrounded by stunning natural beauty and boasts a high standard of living. With plenty of work opportunities, a diverse array of neighbourhoods to choose from, and loads of activities available, life in Sydney is anything but dull.
Let us confirm what you probably already suspected: Sydney is the most expensive place to live in Australia. This iconic city has it all: sun-drenched beaches, salubrious neighbourhoods, spectacular natural harbour, fine restaurants and first-class shopping. But it comes at a price. The average house price in the capital of New South Wales currently stands at just over $1,000,000 (£495,800). Melbourne – the world’s most liveable city – trails closely behind.
The property market in Australia is known for one thing – it’s expensive! However, the good news in 2018 for international buyers is that prices are getting slightly lower in many regions. In this property update, we have a look at where the property hotspots for you are and what you can expect if you’re hoping to purchase property in Australia.