Australia is a sunny place mostly known for its Outback, its Great Barrier Reef, the Sydney Opera House and its kangaroos. However, Australia is a world player in many areas including economy and politics. In fact, the Australian economy is still galloping along at a healthy pace. In 2002 this healthy economic outlook was being driven in large part by new housing construction starts in the Australian property market along with household consumer spending.

Since then, the market has climbed considerably and started to flatten out over the past 12 months. At the moment all signs indicate, investors interested in investing in Australian properties should definitely have long-range objectives; if they are looking to make a quick profit – they should probably try their luck somewhere else since the property market in Australia is not a hot bet in the short term.