Australia saw both good and bad during the year of 2012. Despite business and consumer fears, and lowered spending as a result, the Australian economy still continued to be strong.
Property investment saw a similar year. The market did not crash as many predicted. The market and property prices did not crash as those in Europe.
Australian investors and new home buyers have been very cautious with their money. Middle range properties from $450,000 to $850,000 sold well. It was the lowest and the highest priced properties which stood on the market most of the year.
What we have seen is clear. Australia’s property market survived the global financial crisis unlike many other modern economies. Confidence is on the rise. Australians are being careful with their money.
2012 was the year prices stopped falling. We can expect stable prices for 2013. For investors, now is the time to buy.