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 Australia is famous for its golden beaches, baked red deserts and glamorous, sophisticated cities, as well as an ancient indigenous history and a young, vibrant culture.
As you will discover, Australia has a great story to tell, from its economic strength and cultural diversity to its groundbreaking research and development and highly skilled workforce. Australia has been ranked by the World Competitiveness Yearbook as the most resilient economy in the world for the fifth consecutive year. Now in its 15th year of continuous growth, Australia is strategically located in the Asia – Pacific, the world's fastest growing region.
Australia has strong population growth due to its progressive immigration. The Australian population grew 1.4% during the 12 months ended 31 December 2006. All states and territories had population growth with a total increase of approximately. 1.28 million people between 2001 and 2006. This trend is expected to continue into the future. As a direct result, many parts of the country are experiencing housing shortages translating into strong tenant demand, increasing rental yields and outstanding capital growth.
Australia has been consistent in terms of strong economic growth and low unemployment rates. There are many other benefits for investing in Australia including:
Tax friendly nation
Some of the States and Territories offer stamp duty relief when purchasing new residential properties off-the-plan, thus only a small portion of the stamp duty is payable on the value of the land component and any improvements, upon the signing of contracts. Australia also has relatively competitive depreciation rates, making an Australian property even more tax effective.
High Rental Yields, low vacancy rates
Australia’s residential vacancy rates are at an all time record low with vacancy rates in Australia’s capital cities ranging from 0.8 per cent in Perth to 2.3 per cent in Hobart in the March 2007 quarter.These low vacancy rates are driving rent increases across the country as demand outstrips supply for rental properties. Thus rental yields are on the rise which is fantastic for an investor seeking a capital growth oriented market whilst maintaining a good cash flow position.
Great exchange rates
The Australian dollar has traditionally been weak against the US dollar and Great British Pound. These favourable exchange rates make Australian property even cheaper for overseas investors.
» Click here to view our exchange rate calculator.
A Government that welcomes overseas investment
Buying from overseas is simpler than it sounds. The Australian government encourages off-shore investors, with some restrictions managed by the Foreign Investment Review Board. In very general terms, non-resident investors are free to invest in new residential property.
Finance in Australia is available to non-resident investors and the Australian taxation and legal system shares many similarities to the UK system, making it relatively simple for non-resident investors (particularly those from the UK) to invest in Australian property.
» Click here for more information on Australian property market and environment
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