RentingExperience has shown that it's much wiser to rent in your selected area for several months before "taking the investment plunge". By living in the area you really gain the opportunity to assess all the practicalities: proximity to shopping, schools and medical facilities; traffic patterns; assess the area to your expectations; market trends and values; planned development etc. It's important to get a "feel" for the area and be happy to settle there. It also avoids the pitfall of impulse buying.
Owners advertise houses and flats for rent in newspapers and at real estate offices. The staff members of real estate offices will assist you find, inspect and decide on a suitable house or a flat to rent. You may need to supply some paper work before you can rent a property.
You will be required to pay rent in advance. The first payment will include a bond that is refundable at the end of the rental. A lease is an agreement to rent housing. It is a legal contract. If you have, doubts or concerns about a lease seek legal advice before signing the contract.
As a tenant, you have rights and obligations. You can get more information on rights and obligations that apply in each state or territory from the government website in the applicable state.
The Rent Australia Website also has more advice specific to each state:
AVERAGE WEEKLY RENTS FOR AUSTRALIAN CAPITAL CITIES:
| City | Houses | Units |
| Sydney | $460 | $420 |
| Melbourne | $360 | $335 |
| Brisbane | $360 | $340 |
| Adelaide | $320 | $200 |
| Perth | $360 | $350 |
| Hobart | $300 | $245 |
| Darwin | $500 | $500 |
| Canberra | $440 | $400 |
Buying
Buying a home is usually considered to be the biggest single investment and great care needs to be taken - even more so by a migrant.
The basic rules of buying property in Australia are:
- Do your research as carefully as possible, and
- Position, Position, Position! It's better to buy the worst house in the best area than the best house in the worst area.
A trend in all the main cities is to live as close to the centre as possible. This is a result of increasing traffic conditions and the time taken to commute. Inner city suburbs are being revitalised and renovations abound.
City apartments are also in big demand, however many families choose to live in suburbs within 10 – 20km to the city.
AVERAGE HOUSE AND UNIT PRICES FOR AUSTRALIAN CAPITAL CITIES:
| City | Houses | Units | ||
| SYDNEY | Inner Region | Outer Region | Inner Region | Outer Region |
| $762,500 | $950,000 | $515,000 | $485,000 | |
| BRISBANE | Inner Region | Outer Region | Inner Region | Outer Region |
| $645,000 | $430,000 | $435,000 | $367,000 | |
| MELBOURNE | Inner Region | Outer Region | Inner Region | Outer Region |
| $357,500 | $724,000 | $370,500 | $407,000 | |
| PERTH | Inner Region | Outer Region | Inner Region | Outer Region |
| $715,000 | $410,000 | SNR | $330,000 | |
| HOBART | Inner Region | Outer Region | Inner Region | Outer Region |
| $470,000 | $410,000 | $470,000 | $265,000 | |
| ADELAIDE | Inner Region | Outer Region | Inner Region | Outer Region |
| $438,250 | $435,000 | $342,500 | $290,000 | |
| DARWIN | Inner Region | Outer Region | Inner Region | Outer Region |
| SNR | $445,000 | $458,950 | $366,000 | |
Source: http://www.domain.com.au/public/apm/suburbprofile/default.aspx?mode=research
Useful Links:
- http://www.realestate.com.au
- http://www.ljhooker.com.au
- http://www.remax.com.au
- http://www.domain.com.au
- http://www.reiaustralia.com.au (Institute of Real Estate)
- http://www.immi.gov.au/living-in-australia/settle-in-australia/everyday-life/housing/
