According to the IMF, Australia is the third most expensive place in terms of the real estate market; next only to Belgium and Canada. According to IMF, the price of houses and lands, in short, the real estate market, is about 31.6% more as compared to the average income of citizens in Australia. This is the case even with regards to apartments. For example, in Berala, a suburb near Sydney, the median price of an apartment is about Australian $4,82,500. Yet, there is no reason for you to lose hope. There are ways to find cheap lands for sale in Australia.
Varying prices of land:
For example, in Neeworra, New South Wales, about 5 acres of bush block land is put up for sale at AUD 25,000. Similarly, in Victoria, about 8.376 acres of land (3.39 hectares) is also put up for sale at AUD 6,49,000. However, as you know the price of the land is always dependent on its location, amenities available and various other factors.
What caused spiralling of housing prices
Interestingly, housing prices collapsed in various other countries but not in Australia. Many reasons are attributed to the unique situation of a rise in housing prices in Australia. Among them, increased urbanization and relocation of people from overseas are also considered to be some of the main reasons that have caused spiralling of housing prices.
Look for real estate firms:
In case, if you are not experienced in the matters relating to buying and selling of real estate properties, the ideal option would be to look for real estate firms. Normally, such firms buy cheap lands for sale in bulk in places like the Elara Marsden Park and mark individual plots of appropriate dimensions. Such real estate firms will be able to provide you vacant land at an affordable price.
Home on turn-key basis:
Once you buy cheap lands for sale, your next step would be to construct your dream home. But, in order to make things easy for you, the real estate firms have introduced home and land packages. Under this scheme, you will buy a particular plot of land from the real estate firm. Now, you have an option to entrust the task of building your dream home on the particular plot of land. The real estate firm will construct the house on ‘turnkey’ basis.
You can make use of this wonderful home and land offer and build your dream home. In fact, this offer can be considered as an effective tool to construct your home at an affordable price. During the last year, real estate market in Australia transacted business worth more than AUD 12.00 billions with an average growth rate of 3.7%. Therefore, if you are planning to buy a house or any other real estate property, this is the right time to pick your option. Any further delay may lead to a further spiralling of prices.
Reliable real estate firms:
Keeping in view the present market condition, the real estate prices in Australia are not likely to come down in the near future. Therefore, you may approach experienced and reliable real estate firms like the http://www.edenbraehomes.com.au/house-and-land/ where you can get vacant land at an affordable price. Further, the real estate firm will also provide you customized plans to build your dream home within your budget.