According to Wizard Home Loans, the number of people thinking of making an investment in Australian property and planning to buy residential property in the next year has increased by 13 per cent to reach 878,000, compared to 779,000 in the December quarter, and interest from property investors is strong in most states.

While South Australia and the Northern Territory experienced a decrease in the number of intending investors, Western Australia was up by 36 per cent compared to last year and a recent survey by HiFX Global Property Hotspot revealed that the number of enquiries received by the company about making an investment in Australian property has doubled over the past year.

According to the Australian Bureau of Statistics, rents rose by 4.4 per cent and prices by 8.6 per cent in the 12 months up to March, which is good news for overseas property buyers looking to invest in the market, and Jenese Malone from PR Australian Properties Pty Ltd believes that the picture will only become more positive in the coming years.

"With the reduction in first homeowners buying, I expect there will be an increase in rental demand and that will also push rents upwards," she says. "Most experts are in agreement that Sydney, Melbourne and Brisbane/Gold Coast will have the best capital growth over the next few years."

She continues: "In the recent past there has been rapid increases in Australian property prices. Whilst this has levelled out somewhat over the past couple years, prices are still increasing and experts are predicting new price booms, starting in Sydney, Brisbane and Melbourne."

To read Jo-ann Hodgson's interview with Jenese Malone click here.

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Related article about Australian property:
Melbourne's population growth aids property market

Article first published 29 June 2007