Australia’s property market has been steadily growing, with the construction sector getting their hands full in 2015 to accommodate the growing demand.
Colliers International’s 2015 Asia Pacific Property Outlook points to Melbourne, Sydney and Brisbane as the markets to watch out for, as inner city apartments are set to be a key investment for 2015. The report cites the growing inner city population and offshore investments as key factors to the rise of inner city dwellings. A staggering 18,000 apartments are underway in the Melbourne CBD alone.
Optimism for the property market is growing as news of a possible rate cut looms in the future. Several major players in the market have readjusted their interest rate forecasts next year, with possible cuts as early as February.
Read more about this on the Your Investment Property website.