Foreign demand for Australian property has been on a recent high, with 1 out of 6 properties purchased by an overseas buyer, accounting for 17% of the total demand for properties in the country.
Victoria accounted for the most foreign buyers at 25%, or 1 in 4 homes and also led in foreign demand for established properties, at a high of 11.5%. Because of the surge of foreign property buyers, First Home Buyers fell from 15% to 22% in Victoria.
Banks and property companies have been quick to point the finger at foreign investors as a major reason for driving property prices up.
Read more about this on the Sydney Morning Herald website.
Latest posts by Dorian Traill (see all)
- Brisbane Slow And Steady Growth Ideal For Investors - November 5, 2015
- 5 Wellness Tips in the Workplace - October 26, 2015
- Sydney Median Soars to $1 Million - September 24, 2015