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Real Estate Activities in Australia: ISIC 70

Australia real estate market valued at A$185.5Bn in 2010


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2014-04-02 06:03:01 - Real Estate Activities in Australia: ISIC 70 - a new market research report on companiesandmarkets.com

The Australian market for real estate activities increased 73% from 2000 to amount to A$185.5 billion in 2010. The value added of the industry accounted for 9.6% of overall GDP. The market grew year on year with the exception of 2008, when the global economic crisis took its toll on Australian real estate activities.

It is worth noting that growth throughout the review period was fuelled not by increasing volumes but by rising prices. PPI within the market has doubled since 2000, and in growth terms surpassed the overall industry. Over the review period Australia´s property market was driven by a number of factors.

These included a strong domestic economy with a relatively low rate of unemployment, generous government support for first-time

 

 

home buyers, population growth and a supply shortage. A grant of A$7,000 was introduced by the federal government for first-time home buyers in 2000. This was doubled in late 2008 as a short-term measure to stimulate the country´s economy.

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