Australian property market
Encyclopedia
In the late 2000s, housing prices in Australia, relative to average incomes, were among the highest in the world, prompting speculation that the country was experiencing a real estate bubble
, like many other countries.
As of February 2007, mortgage debt was equivalent to 80% of Australian GDP.
The Australian Property Market in the third quarter of 2009 was the second best property performing property market in the world following Israel
.
In Sydney, as of March 2010, the Property Market's vacancy rate reached 0.53% signalling that the Market is recovering, as these rates had reached 2% in August 2009.
Real estate bubble
A real estate bubble or property bubble is a type of economic bubble that occurs periodically in local or global real estate markets...
, like many other countries.
As of February 2007, mortgage debt was equivalent to 80% of Australian GDP.
The Australian Property Market in the third quarter of 2009 was the second best property performing property market in the world following Israel
Israel
The State of Israel is a parliamentary republic located in the Middle East, along the eastern shore of the Mediterranean Sea...
.
In Sydney, as of March 2010, the Property Market's vacancy rate reached 0.53% signalling that the Market is recovering, as these rates had reached 2% in August 2009.
See also
- Australian property bubbleAustralian property bubbleThe Australian Property bubble is an observation that real estate prices in Australia are valued at more than they are worth. This is a real estate bubble....
- Home ownership in AustraliaHome ownership in AustraliaHome ownership is a key cultural icon in Australia. Australians have traditionally aspired to the modest Great Australian Dream of "owning a detached house on a fenced block of land." Home-ownership has been seen as creating a responsible citizenry; according to a former Premier of Victoria, "The...
- Negative gearing (Australia)Negative gearing (Australia)Negative gearing is a form of financial leverage where an investor borrows money to buy an asset, but the income generated by that asset does not cover the interest on the loan...