Looking out for ever-changing home prices in Australia? The country's major cities, Sydney and Melbourne are again in the spotlight for a peak in property listings.
An article on abc.net.au highlighted the significant rise in home price listings for these Australian cities according to data gathered by SQM Research. Their figures showed that Sydney topped the list, with 18.5% compared to Melbourne, which had 7.8%. Other cities featured Canberra which came in next, with Brisbane and Darwin following not far behind.
In the same article, managing director for SQM Research Louis Christopher was quoted as saying "Investors will leave the market when capital gains have peaked... Vendors are looking to cash out at the top of the market." Mr. Christopher also said that he feels there is already a peak in the property price growth, which will eventually lead to a slowdown once the home market would reach its peak.
The dailreckoning.com.au also reported on another viable excuse for the significant rise for property listings in the country, especially for Sydney.
The onslaught of international students coming to Sydney, in particular, has added to the property market's dynamic rise. The option to rent instead of looking to buy houses has decidedly proved cheaper for these students and the benefits of a more central location was another turning point for the said rise, the same article reported. The population rate for the said migration of international students into the country is expected to exceed the record held in 2009. Student migrants are also being predicted to further increase in number over the next years.
The mining industry in Australia is not the only hope for the country's long term growth and development plan. Education is being regarded in Australia nowadays as students are being given a more relaxed privilege to not only study but also with plans to work there.
