Packed with the latest figures and market movements, the report tips 2016 as an exciting time of change and growth in Australia’s real estate market.
While apartments are still hot property in major cities across Australia, the unprecedented boom of the last few years may be slowing at last. But as one door starts to close, another opens ― in this case, for commercial property.
The slowdown in the residential sector could open up new opportunities in commercial real estate. In particular, the shift is paving the way for developers and investors looking to make the most of the low-interest environment. As Australia’s mining states steadily reshape their economies, there are plenty of opportunities to expand into these markets.
It’s likely to be a great year for owners as well, with pricing levels showing no signs of decline. So if you have a rental property, you may want to hold onto it in 2016 ― and reap the benefits of a growing rental income.
Here’s a quick look at what lies ahead for investors and developers in Australian property this year:
- Global markets instability driving investment activity into other assets like commercial property.
- WA and QLD property markets are set to move into the recovery phase, following downturn in mining activity.
- Slowing apartment development approvals will see opportunities open up for non-residential use.
- A boom in tourism and international education driving demand for accommodation around the country.
- Residential property cycle to ease while commercial property fundamentals will continue to improve, with each market and sector at a different point of recovery.
To read more about the landmark year ahead, download your copy of theProperty Insights Report.