It’s common knowledge that Australia is one the world’s most expensive when it comes to the property market. In spite of the current drop in prices, with suburbs having more than double digits in price drops, Sydney and Melbourne’s median property prices are still more expensive than other booming cities in the world.
According to global investment bank Morgan Stanley, Australia and Melbourne are around 60 per cent less affordable than Seattle and New York in the United States. Even a nine-bedroom 13th-century chateau with 7000 square metres of parkland located in France is cheaper than a two-bedroom apartment in Sydney, Domain reported.
However, since the price drop, there are hidden gems along the way. Melbourne is a well sought out city, and there are properties under $1 million that you should be on the lookout for, according to picks from Domain.
Australia’s property market is experiencing both ups and downs as areas are experiencing a drop, while others have price increases due to the changes. For people who want to buy properties australia, it’s best to consult with experts on forecasts of the property market. Finding out the possible outcomes of a property can help provide insights into whether the property you bought is worth it or not.
Consult a real estate firm with a proven track record in the industry. National Brokers Network has a team of experienced brokers who combines fresh ideas and acquired knowledge as well as a hands-on approach in real-estate to provide the best service possible.
Get in touch with us. Call 03 9226 9222 or email firstname.lastname@example.org to consult with our staff, and get insights that will help you with your purchase decision.