Australian property market 'driven by price'

Australian property market 'driven by price'
Low House prices down under are helping to make Australia a popular location for Overseas Property investment, it has been claimed.

As more and more Britons choose to look beyond the traditional foreign holiday hotspots of France and Spain for a holiday home, so the southern hemisphere has experienced a surge in demand, Escapes2.com has revealed.

The stability of the country together with the fact that buyers do not have a language barrier to cross have made Australia an attractive prospect for British investors.

The comments follow a recent survey by HiFX Global Property Hotspot which revealed the number of enquiries about investing in Australia had doubled since last year.

Paul McMullan, web manager for Escapes2.com, said the Australian property market was "driven largely by price".

"You're looking at £100,000 for a three or four bedroom house in certain areas."

And those longing for some luxury in the Antipodean sun will not be disappointed: "You can get a three bed detached house with a pool for about £150,000 in Australia. In the UK you'd probably struggle to get a terraced house for that," Mr McMullan said.