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Low price property Down Under

Interest in the Australian property market is spiralling due to fantastically low prices, according to industry experts.

Paul McMullan, web manager for property portal Escapes2.com, said that the socioeconomic stability of Australia makes it a secure investment destination, with large sections of the country still undeveloped.

"There's a lot of room to build houses over there," he said - with four bedroom properties available in some regions for as little as £100,000, the Australian market seems laden with profit potential.

Mr McMullan also argued that, unlike the traditionally popular markets of France and Spain, Australian property prices are less linked to the potential for lucrative rental returns:

"You're not banking so much on the holiday market - you're looking at buying it like you would over in the UK."

He confirmed the great value of Australian housing: "You can get a three-bed detached house with a pool for about £150,000 in Australia. In the UK you'd probably struggle to get a terraced house for that."

Currency exchange specialists HiFX recently reported that property enquiries regarding Australia have doubled in the last year.

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