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"Is Now The Time to Buy?"
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"The 7 Step System to Buying Australian Property"
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Melbourne, took the second-place spot, following close behind Vienna’s score. Vienna had taken the top spot from Melbourne last year after Melbourne had an incredible seven consecutive years at No. 1.
Sydney rose three places to take the 3rd position in 2019, after finishing 5th in 2018. Adelaide was the third Australian city to finish in the top ten, in 10th place.
This underlines the high quality of life on offer in the country – an important driver of immigration, tourism, and education.
These rankings also impact property investment because home buyers believe that real estate in highly liveable cities is more likely to gain value over the medium and long terms.
Honolulu scored the highest among U.S. cities, ranking 22nd. Despite being rated highly for culture, New York only ranked 58th. And the best UK city was Manchester, ranked 38th, with London at 48th. Overall, the index remains dominated by medium-sized cities in wealthy countries. These cities have well-funded public healthcare systems, compulsory and high-quality education, and functional road and rail infrastructure.
The provision of these services is assisted by the presence of fully democratic electoral systems and generally low levels of corruption.
Melbourne is often considered to be favoured over Sydney in terms of lifestyle, culture, transport and real estateprices. It's foreign buyer stamp duty at 7% is also one point lower than the New South Wales equivalent.
Sydney, meanwhile, attracts buyers with its iconic landmarks such as the harbour, Harbour Bridge, Opera House and stunning beaches and coastline. The interest in Brisbane and Perth is driven by families with children who are planning to migrate.
Does buying property in Australia help with migration?
See our FAQ on Australian property for this and the answers to other common investing questions.
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