There are a number of effects that completely justify the re-election of the Turnbull government, and the Australian Property Market enjoys one of them. Not only the properties are hitting back the markets, the property markets are regaining investors’ trust as well. The interest rates are record low this time and investors are assured of the market to not to have any considerable negative changes.
But that doesn’t make everything fine and peaceful. The public is still concerned about the property market. Looking at the housing affordability and other similar issues, it seems the government still has a lot to work upon. Though in its last term it was a brilliant decision by the state government to appoint a minister for cities but in addition to that this time they need to appoint one to take care of all the overseas real estate market.
With mind-blowing foundation of more than eighteen million superannuation funds in Australia and employing almost every fourth Australian citizen, Real Estate market is certainly one of the largest markets in Australia. In fact, since the mining sector seems to be losing its pace, Australian Real estate can very well be called the backbone of country’s economy. Moreover, the residential real estate alone has its net worth of more than $6 trillion. Thus, it is important for the federal government to make more efforts to bring stability and calm to the property market in order to maintain the economy of the country. For more information on Australian Real Estate and other similar issues, feel free to follow us.