Experts predict that expats and offshore investors will begin purchasing Australian property, capitalising on low interest rates and the falling value of the Australian dollar. As house prices begin to rise, it is expected that there will be huge interest from those overseas and this will subsequently drive the cost of property, representing a great opportunity for investment.
The concern is that this overseas investment will drive the value of property, leading to housing shortages as the supply will fail to match demand. The average property value in Australia grew by approximately 10%, with a staggering 15% rise in Sydney and this trend is unfortunately set to continue.
Expats in particular will be keen to invest in Australian property, given that both Sydney and Canberra both fell from the list of the top 30 most expensive destinations for expats and now sit at 31 and 39 respectively. The results of the ECA International survey and the opportunity to snag a bargain property will certainly encourage expats to head to Australian shores in the next few months