Investing in property nowadays can be a risky business however in Australia there has never been such a good time to invest.
Australia boasts one of the most stable property markets in the world and even remained stable throughout the recent economic recession.
For this reason investors from both Australia and overseas are taking advantage of this situation and making a safe investment in the property market.
So why is Australia such a safe property investment destination? The Australian banks have a lot to do with this.
Stricter rules, when it comes to lending money, has kept the amount of repossessions to a minimum which in turn kept house prices stable.
First time buyers were not allowed to make a purchase without first putting down a substantial deposit.
Unlike other countries where homeowners were allowed to borrow far more than what their home was worth Australian banks restricted borrowers to only borrowing what they need which has saved a huge amount of unnecessary debt and kept repossessions to a minimum.
Thanks to the Government upgrading the entire transport system around the country, properties that are further out of town have also become popular investments.
Before the system upgrade, outback properties were unreachable and many properties run to ruin.
These days however investors are snapping up some real bargains and since they are now more accessible for commuters outback property sales are on the rise.
Foreign investment is also relatively straight forward and although all over sea investors need to first seek permission from the Foreign Investment Board, once this has been obtained purchasing Australian realty is fairly simple and is very similar to the UK purchase process.
A deposit will be placed on the property to secure the sale whilst all paperwork is completed.
A check will also be run on the property to ensure that it is indeed fit to sell.
A completion date will then be set where both the buyer and seller attend and sign final contracts of sale and monies are handed to the seller.
Whatever type of property you are thinking of investing in, Australia really does make a safe investment destination.
Investors can get far more for their money than in countries like Canada and The USA and with a high demand for rental type properties all year round, investing in the rental market can earn you a healthy income on your realty investment.