2019 saw the Australian housing market slow as banks tightened lending for investment property and buyers were cautious about the outcome of the May 2019 Federal election. Towards the end of 2019, there was a resurgence and 2020 has been predicted as a strong year for growth in the market which should see more investment properties become available and therefore rents stabilising.
As the latest in the series of our webinars, this focused webinar covers the information international assignees, their families and those supporting them, find most useful as they commence their relocation to Singapore.
Sydney is showing better availability of rental properties which is reflected in stable or even lower rents. Sydney still has some of the highest rents in Australia, with Canberra now recording the highest as demand surges in the national capital. Perth meanwhile has seen an economic resurgence and with this rental vacancy rates have dropped from 7 to 2.5% in the last 2 years.
We have also seen a move to leasing documentation being electronic. This includes the applications, leases and lodgement as well as processing and return of the security deposit. Whilst this increases the security of personal data, it can be more complicated and require additional support and guidance for completion in often short time frames.
On the education front, private schools remain popular, but places at these are limited. While every endeavour can be made to secure a place at a preferred school, some have long waiting lists and it is simply to not possible to “jump the queue”. Public schools are popular and of a very good standard. In the past living within the zone of a particular public school has guaranteed a place however from late 2019 some Sydney schools at capacity have begun referring students to neighbouring schools.
The Government requirements for qualification for immigration remain stringent, as overall places for permanent migration were reduced. At the same time, the Government is actively encouraging migration away from the centres of Sydney, Melbourne and Brisbane in favour of regional areas. 25,000 visa places have been set aside for regional areas and receive priority processing. Perth and the Gold Coast have been included as regional centres under this policy, ensuring they are attractive destinations for businesses and international workers.
A Complete Guide on Relocating to Australia you can find here!
Woodhams Relocation Centre has been providing Destination Services into and around Australia for almost 30 years. All of our staff have relocated themselves so they understand what it is like to move. Woodhams Relocation Centre is the first and only Australian relocation company to hold the EuRA Global Quality Seal, demonstrating our commitment to the very highest standards of quality.