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.

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