![]() ![]() The latest statistics from CoreLogic show dwelling values in Australia have risen 20.3 per cent over the past 12 months - the highest annual appreciation since June 1989. "We felt exhausted and wanted to give up at times because prices were bizarre." The couple inspected three to five properties every Saturday for a year before they made their purchase. ![]() However, for some domestic buyers seeking a home in Australia is still not smooth sailing, with agents blatantly preferring foreign money.Ĭam My Tran-Smith and her husband recently bought their first home in the Greater Sydney suburb of Peakhurst, but they missed out on so many properties that they "lost count." "This group is now virtually immaterial as a contributor to demand for Australian housing," he says. ![]() It might come as a surprise to some, but the Foreign Investment Review Board's latest survey shows that overseas buyers' purchasing activity has hit record lows, with residential real estate approvals for foreigners falling from 40,141 in 2015-16 to 7,056 this year.Īnd CoreLogic's research director Tim Lawless says foreign buyers have comprised a consistently smaller portion of residential housing demand in Australia over the past five or six years. ![]() Is this proof that overseas buyers are not to blame for the inflated dwelling costs in Australia? ![]()
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