3 things to think about before buying a holiday home
A holiday home is great for knowing you can get away whenever the urge takes you. However, what should you consider before making an investment?
Western Australia has long been known for its diverse culture, and new figures from the Australian Bureau of Statistics (ABS) reaffirm this fact.
Data shows a third of the Western Australian population was born overseas – the highest proportion of any other state or territory.
The majority (256,100) were born in the UK, but New Zealand (81,000) and South Africa (39,800) have also provided large numbers of migrants.
In fact, these three nations alone accounted for 48 per cent of the state's overseas-born population in 2011.
“The proportion of overseas-born residents in Western Australia has continued to increase from one Census to the next,” noted Bjorn Jarvis, director of demography at the ABS.
Victoria ranked in second place in terms of its number of migrants, with 29 per cent of its population originating from overseas.
Recent ABS population data sparked concern among experts at the Housing Industry Association, which said more real estate was needed to ensure these additional people have somewhere to live.
As a result, more Bunbury real estate may be constructed over the coming years as attempts are made to provide for the needs of the growing population.
A holiday home is great for knowing you can get away whenever the urge takes you. However, what should you consider before making an investment?
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