House prices in Sydney are continuing to slow, while those in smaller cities rise, new figures show.
The latest CoreLogic house price data show that house prices in Australia’s largest city fell by 0.7 per cent in November and have decreased by 1.3 per cent in the last three months.
However, median property prices in Sydney remain comfortably higher than they are in any other state or territory capital city. The average price of a home in Sydney is AUS$909,041, while nationwide the average is AUS$546,694.
During November, the highest property price rises of any Australian capital city were recorded in Canberra where values rose by 0.9 per cent. Hobart was second with prices rising by 0.6 per cent. Property prices in the Tasmanian capital, though, remain way below the national average, with the median price currently AUS$398,093.
If you’re planning on emigrating to Australia in the near future, and therefore planning to buy an Australian property, then it is essential to get the best possible deal on your currency deal.
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.
For example, three months ago, back in early September, £1 would have purchased you AUS$1.627. However, as of yesterday the rate had recovered to reach £1=AUS$1.767. On an exchange of a substantial amount, say from the sale of your UK property prior to emigrating, such a fall has a massive impact on the amount of money you’ll have to start your new life. For example, if exchanging £150,000 the difference in Australian Dollars received would have been AUS$21,000. In just a matter of months.
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 1st December 2017