Property investors 'should avoid city centre flats'
Article by Mozo
You can usually get a good idea about what type of properties are popular down under by seeing what foreign investors are buying.
Australia undoubtedly has a two-tiered economy at the moment, as people in the booming mining sector are obviously faring a lot better than workers in other industries.
According to property investor Brett Alegre-Wood, the demand for homes in small, iron-rich towns is extremely high.
Many Aussies have been wary about taking out home loans so far in 2012, as there has been uncertainty over interest rates. This means that a lot of people have had little choice but to rent, which suits property investors.
Mr Alegre-Wood also suggested Australians are not so keen to purchase smaller properties in the middle of built-up areas.
"In Melbourne, city flats are doing terribly because there are too many of them. If you are going to look at that marketplace, go for the houses," he remarked.
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