The property market in Australia is set to remain relatively the same throughout 2012, as the Reserve Bank gives respite by cutting its rates. This cut in interest rates is expected to give sales activity a boost, however prices are not likely to budge.

Data analyst, Cameron Kusher says: “Overall, we anticipate that the soft conditions are likely to persist, however conditions will be better than those in 2011. We forecast that growth will be limited with values potentially falling further in certain areas. In those areas where values do increase they are likely to grow at a rate below inflation.”

Mr Kusher also notes that Melbourne, Adelaide and Hobart are currently the weakest markets out of all the capital cities. That said, it is thought that Sydney, Canberra, Perth and Brisbane will perform much better.

Many experts, such as Michael Matuisk, a veteran in the real estate world, believe that the prices in Australia will move sideways if anything, rather than up or down. He says: “We look to some improvement in nominal terms, but in real terms, expect a period of flat growth. Improvement should follow, within a small positive band of 2% to 4% per year over the next several years.”

For details of property for sale in Australia, visit the Australia listings on Rightmove Overseas. One way to save money when buying down under is to use a currency specialist when transferring your pounds into dollars to complete the purchase of your property. For more information on this 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’