Buyers are getting antsy about China's property market.And that's putting an extra strain on the country's real estate sector, which could mean an even bigger squeeze for investors.Here's what you need to know.Read more: China is now the world's biggest consumer of foreign real estate, with almost $300bn of purchases in 2015, up from $180bn in 2014.There are now more than 12m homes listed in the c...
Launceston’s CBD, which is known as the world’s largest urban park, has become one of the cheapest places to rent a property.
According to data from Zillow, there are only five rental properties listed for rent in the CBD, while only one property is listed for $400,000.
This compares to $1.7 million in Sydney, and $2.3 million in Melbourne.
But the difference is only a small one, and if you look at the average price, it’s actually more like $1,700 per square metre.
That’s far less than the average of $1 million in the city.
«There are just so many properties that are not listed for a high price, so I’m really happy to see prices drop,» Ms Zainal said.
«I think people are just starting to realise that there’s a lot of rental properties available for a lot less than what they thought they were paying.»
The CBD’s affordable property market has also seen a decline in properties listed as affordable for more than two years.
The average affordable property is now listed for around $1 per square foot.
However, the number of properties listed with a price over $2 million has increased from 1.1 per cent to 2.9 per cent.
«There’s a real market out there for affordability that’s going to be more accessible and accessible to people who are working class and middle-class,» Ms Alford said.
The most expensive rental properties are currently listed for as much as $4 million.
While the CBD has seen a drop in the price of the most expensive properties, it is still one of Sydney’s most affordable areas.