SYDNEY (REUTERS) – Australian home prices rebounded in January with Melbourne boasting especially strong growth, a counter to speculation the market was at risk of crashing after a rapid run-up last year.
Figures out on Monday (Feb 1) from property consultant CoreLogic RP Data showed its index of home prices in the combined capital cities rose 0.9 per cent in January, compared to December when prices were flat. Continue reading
Australia introduced new investment rules yesterday aimed at cracking down on foreigners unlawfully owning residential properties and improving scrutiny on acquisitions of farmland from overseas, reported Reuters.
In May, the government unveiled plans to fine and even jail foreigners who violate rules allowing them to purchase new residential properties, and not existing homes. Continue reading
Higher living standards, top quality education and a more favourable exchange rate are helping to drive Melbourne’s property market.
By Romesh Navaratnarajah
If you happen to flip through the newspaper, you would have noticed many advertisements marketing residential properties in Australia, particularly in Melbourne.
The high demand for housing units in Australia’s biggest-growing city comes from the increasing number of Singaporeans residing there. Continue reading