Many of Australia’s property markets are expected to make their journey on the road to recovery during 2012, a new report declares.

The report, released by the APM (Australian Property Monitors) states that the “housing markets entered a correction phase with income growth required to catch up with the finance requirements for home purchases.”

There have been many factors contributing to the bad property market; mainly consumer confidence is at an all time low, along with several natural disasters happening, less and less people are putting their faith in the property market and deciding not to get ‘on the ladder’ just yet.

Next year will be better though, as experts predict that there will be more economic growth and a greater demand for properties as confidence grows. It is thought that property prices in Australia could see an increase of between three and five % in the next twelve months.

If you’re planning a move to Australia and need to transfer a large sum of money, remember to use a currency specialist to exchange your pounds into dollars. For more information, contact Smart Currency Exchange.

To understand the full step-by-step process to buying a property in Australia, collect The Overseas Guides Company’s ‘Australia Property Buying Guide’