Brisbane was the only Australian capital city to record a rise in property prices in the month to mid-May, new data shows.
The latest CoreLogic Property Market Indicator Summary reveals that property prices in Brisbane rose by 0.6 per cent in this period – bucking the trend of Australia’s other state and territory capitals.
Average property values in Sydney and Melbourne fell by 1.2 per cent and 1.9 per cent respectively, while Perth prices slipped by 0.7 per cent and those in Adelaide by 0.6 per cent.
Richard Wakelin of Melbourne-based Wakelin Property Advisory told Fairfax Media that the market was beginning to level off after five years of growth. Wakelin is anticipating prices to fall of between 5 per cent and 8 per cent over the next 12 months, with the multi-unit high-rise market likely to be heavily impacted.
These falling property prices could be good news for anyone planning on emigrating to, and buying a property in, Australia in the near future. Especially if you can take advantage of the currency exchange rates. When exchanging large lump sums for emigration purposes, only a small change in the market can have a significant impact on the amount of money you could be potentially starting your new life with.
Had, for example, you sold your UK house three months ago and decided to change, say, £150,000 into Australian Dollars immediately, then on 24th February you would have received AUS$1.621 for each £1 exchanged. Or £243,150. Had you waited until yesterday to make the exchange, though, then the exchange rate had climbed to £1=AUS$1.742. This would net you a total of AUS$261,300 – over AUS$18,000 more than just three months earler.
Currency specialists Halo Financial understands why the exchange rates are moving and just what impact this has on your currency transaction. What’s more, they can also explain how to make your money go further and give you a range options on exactly when you wish to exchange, and how much you should exchange at a time.
To find out how you can make sure you can get the best exchange rate possible, and take advantage of positive fluctuations in the markets, visit www.halofinancial.com
Article published 25th May 2017