Find Property and Real Estate expertise in Australia

Between 1990 and 2008 average house prices in Australia rose fivefold. Housing in the country is among the world’s most expensive relative to income when comparing with other industrialised countries. There are over 10,000 real estate services businesses operating in Australia, comprising around 4,000 franchised real estate agents, over 4,500 non-franchised agents and around 2000 other real estate services businesses. For a liberalized economy Australia residential real estate is sometimes seen as inward-looking. For instance, acquisition of residential real estate by foreign nationals and corporations is subject to Foreign Investment Review Board (FIRB) approval. Rental rates were around 4.5% in 2009. Property tax is differently assessed from state to state, with the tax based determined by the assessed value of the property, but no more than 2.25% (for property exceeding AUS$ 4 million in value).