One thing that I don't think the Australian share market is short of is high-quality blue chip shares.
However, with so many options for investors to choose from, it can be hard to decide which ones to add to your portfolio.
To narrow things down I've picked out three blue chip shares which I think are amongst the best on the market right now. They are as follows:
CSL Limited (ASX: CSL)
One blue chip share to consider buying is CSL. I think the biotherapeutics giant is one of the most outstanding companies in Australia and a great long term investment option. This is due to the quality of its management team and the strong growth potential of both its CSL Behring and Seqirus businesses.
National Australia Bank Ltd (ASX: NAB)
Although NAB's shares climbed to a 52-week high this week, I continue to see a lot of value in them. Especially given the positive trends which are emerging in the housing market. The Australian Bureau of Statistics recently advised that the value of new loans issued to households increased by a sizeable 3.9% to $32 billion in July, which was the biggest increase in almost five years. This appears to be an indication that the housing market rebound has started, which would be a big boost to the big four banks. Another bonus is that its shares offer a very generous dividend yield at present.
REA Group Limited (ASX: REA)
A final blue chip share to consider is this property listings company. As with NAB, a rebound in the housing market would be a big positive for REA Group as it could lead to an acceleration in listings volume growth. Combined with price increases and new revenue streams, I feel it bodes well for REA Group's earning growth over the next decade.
