Australian Bureau of Statistics, population data for the 12 months ending June 2009 shows that, Australia’s population has posted its highest 12 month gain in 40 years. Our population exploded by approximately 443,000 or 2.1% to 21,875,000. Even though we are down on the new baby count, the fact that we are living longer has helped this figure along as has the approximately 286,000 new migrants.
I interpret this data to mean that our residential property market will bounce back strongly over the medium to long term particularly in the beachside and leafy established suburbs.
My mail is a good percentage of the migrants are reasonably well healed folk looking for a little sunshine and a little less militant religious fervor.
Consider taking on a little debt and get yourself a piece of this good earth is my tip. I will not be surprised if values doubled in these areas over the next 5 to 10 years, because of demand.
Find a decent mortgage broker you can make a professional conection with. Even consider an equity finance mortgage. Remember, if the property value doubles, you will be sitting pretty.
I also recomend you take some insurance on your income and look to diversify your income. A hobby can sometimes be a great way to supplement your family income.
Pay off your mortgage using the internet and your home pc.
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