- 1 March 2019
Foreign Buyers Retreating From All But One Housing Market - Which One?!
There has been a dramatic fall in foreign investment in Australia’s housing market, but the demand for one capital city property market remains steady.
The latest Foreign Investment Review Board report reveals the value of approvals for foreign investment in residential real estate nationally fell $17.5 billion over the 2017/18 financial year to $12.5 billion.
Queensland received 17 per cent of all residential real estate approvals last financial year, with an investment value of $1.4 billion — more than the ACT, Western Australia, the Northern Territory, and Tasmania combined.
China accounts for the majority of residential real estate approvals.
Carrie Law, chief executive of Chinese real estate website Juwai.com, said that while Chinese demand for residential real estate nationally had fallen, a recovery was on the way.
A recent report from realestate.com.au found demand from Chinese buyers for the Brisbane housing market actually rose 35 per cent in the 12 months to May 2018.
So . . . with a lot of incoming demand for properties in the SEQ market, what do you think will continue to happen to the prices?!
It is worth revisiting the article I covered about this in December 2018:
Brisbane’s Growth Story | https://youtu.be/ibmdJ0PcxDw
Make contact with your Property Mentor for further information re : our great property options in these areas!
Have a great weekend and catch you next week!
Troy Gunasekera
National Manager
Property Club being the leaders in Wealth Creation through property for 20+ years now, with over 20,000+ properties settled by Club members is in the enviable position of being best placed to assist YOU to have a retirement avoiding the pension!
https://www.propertyclub.com.au/contact-us/
Contact your Property Mentor for guidance and assistance on the best deals we have at the moment and let us show you how to avoid the pension!
Have a great weekend and catch you next week!
Warm Regards,
Troy
Related Posts
The Market’s Not Waiting for Rate Cuts – Is It Time to Move?
Recent data suggests that the Australian property market is already showing signs of recovery, even before the Reserve Bank of Australia (RBA) decided to cut interest rates in February. With new home sales rising and approvals for detached housing on the upswing, it’s clear that some buyers and investors are getting...
Cyclone Alfred: Staying Safe and Protecting Your Tenants
With Cyclone Alfred approaching, many communities in Queensland and New South Wales are facing uncertainty. Extreme weather events like this bring not only immediate risks but also longer-term challenges for property owners and tenants alike. At times like these, safety comes first . Ensuring you, your loved...
Western Australia Holds Its Crown, Queensland Closes In
Western Australia has held off a surging Queensland to once again claim the title of Australia’s best-performing economy, according to the latest CommSec State of the States Report. For the second quarter in a row—and only the second time in a decade—WA leads the nation, topping five of eight key economic...