The property market in Australia is quite varied at the moment. The state of Queensland has a growth rate around the 5% mark, and property investment and development has been kind to many players up there.
In NSW the recently property boom from 1998 onwards came to a slow down around late 2003. Prices really came down, and as taxes and other handouts kill the state of NSW - only now in 2007 is the market starting to rebound. Growth is only around the 1% mark at the moment.
In Victoria it's more of the same, a damp market with something like 2 or 3% movement upwards. Victoria is cold, old and ghastly. Who'd want to live there anyway?
South Australia is doing ok, the low southern state nearing the 10% mark, but the boom state is Western Australia with the mining magnate turning something like 20+% in growth for property - it's the place where money has and will be made.
If your keen on buying property in Australia or near parts of the world such as New Zealand, be sure and visit the website www.Realestate.com.au - which gives a good insight into prices for sale and rental of property.
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