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The Global Property Market - A Glimpse At Current Trends and Practices
The inner workings of the global property market boil down to a few major players holding some of the most sought-after real estate in the world - amongst them, Australia, the United States, and the United Kingdom. There are a mixed bag of forces at play within each of these markets, spanning everything from political influence to housing crises, but regardless of location, understanding the flow of cash and opportunity in the property sphere could prove invaluable to anyone looking to buy, sell, or even just find a more affordable place to live. In a time when salaries can’t keep up with house prices, first-home buyers need every advantage they can get.
Property prices in Australia have been historically driven by the demand resulting from population growth and employment opportunities, which may explain the sky-high price tags attached to many Sydney and Melbourne homes, but the tides have begun to turn - buyers are shying away from Sydney’s million-dollar homes in favor of more affordable options. As the market currently stands, the city’s year-on-year growth rate has shrunk by 5.9%, while the lower median property price in Hobart has resulted in a growth rate of 8.4%.
In some good news, the treacherous rise ... more
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