Last Tuesday, The Reserve Bank of Australia announced that there is no interest rate cut and rates will remain on hold. Australia is most fortunate because Australian banks are the top performing in the world-as too the property market marks and the Australian Economy is building momentum. Its better you have your own weapon loaded so when the crisis comes, you can hit it will full force, Warwick McKibbin said.
According an article in the China Daily last week, “Real estate down under proving to be very attractive; Chinese investors are showing an increasing high level of interest in the Australian property market.” 9% of 30% share foreign developers are Chinese developers took in Australian apartment market last year. The biggest market sits along in the east coast in Australia’s two largest cities: Melbourne and Sydney. Most foreign developers are proposed in about 80% of the total number of apartment located in these two cities. 2012 will be a tough year, money will be tight but it allows property niche markets to consolidate.