Has anyone here bought in Oz?

Am looking at Brisbane. How is the market out there? What sort of yield can one expect?


Cheers.

My ozzie friend is making 4% yield on his properties. It is ok when you work in Australia and pay tax as there are some benefits. For outside investors it makes no sense. Plus interest rates are still rising looking at mortgages of 7.25% and more.

Brisbane centre has seen a glut in partment blocks like Sydney and Melbourne.

Australia has one of the most over-valued property markets in the world.
I have friends who've lost a large (about 40%) amount of money in the last 3 years, and the bust is only just starting.

Buyer beware...

http://www.economist.com/finance/displaySt...tory_id=4079027

Plus the interest rates have just gone up to 6%

http://www.housepricecrash.co.uk/forum/ind...showtopic=33476

I've looked at property prices in Australia on and off for about 15 years and they are way way way too high. I can't fathom it at all.

Property prices here are no more inflated than the UK.
The rent returns are lower, but they are on the up recently as the market is tight.

As posted earlier though it makes no sense to invest here unless you are a high income Aussie taxpayer.

Also rates to keep rising, see link

http://www.news.com.au/perthnow/story/0,21...838-951,00.html