Economists have a positive outlook on Australia’s economy. They believe consumer confidence is likely to increase.
Overseas investors have been picking up the pace in foreign investment in Australia. More people are looking to make financial decisions, such as purchasing a property. In turn, this is driving the property market up.
On top of that, foreign investment is likely to return in the next 12 months as the COVID-19 vaccine rolls out, there will be even more changes in the property market.
Anyone who might be delaying a purchase could be looking at paying more down the track and should be talking to their broker today.
What will this mean for property prices?
It’s too early to gauge enough information based on foreign overseas interest in the Australian property market. However, we can guess that most of the purchases will be in Sydney and Melbourne.
This helps us anticipate a rise in the inner city apartment investment, which has been hit hard by the significant drop in migration and international students due to the pandemic.
In contrast with the overseas investors focusing on new high-rise apartments, the local investors should instead seek established homes in inner suburban areas.
Foreign investors will add further competition to the property market and real estate investment.
Are you a foreign investor looking to invest in property in Australia?
Investment loans are riskier than standard home loans. They may have more complicated approval criteria depending on the lender. You may find different borrowing options and strategies while looking into foreign investment in Australia.
You need to know how foreign investment in Australia works and what options are available to you before deciding on investing in Australia’s property.
Check our property types page for more information about different investment properties that you may be considering.
Call us on 1300 889 743 or fill in our online enquiry form to speak to our mortgage brokers specialising in helping foreign investors like you.