Foreign investors are going crazy for Australian property, new figures show.
With Australian dollar falling significantly in the last 12-months, foreign investors, especially Chinese nationals are keen to scoop up property in Australia – in what should give investors and developers in Western Australia great optimism.
The quarterly NAB survey report is here.
Business Insider believes the surge in foreign investment fits the trend of wealthy Chinese investors looking outside of their own country for safe investments.
“The timing of the surge in property investment fits with the view that hot money outflows from China may found a home in Australia’s residential property market,” BI said.
The survey also said the WA market was the most pessimestic in the country right now; which for medium to long-term thinkers is a sure bet that the market is at a bottom which would indicate a good time to consider investing for the future.
Foreigners are now buying close to one fifth of new supply coming onto the market in some areas.
Source: Business Insider, Article-“Charts: 1 in every 5 new apartments in Australia is sold to foreigners”, 29th October 2015