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Australian Property Market
Australia has long been an attractive destination for foreign investment into residential property. The stable economy and political landscape, tourism, education, immigration and health are all key drivers that attract investment from offshore buyers. However, for many the biggest draw is the lifestyle Australia offers. The warm, sunny climate combined with the rich and diverse culture appeals to buyers from all over the world.
Our key cities of Sydney and Melbourne have experienced strong growth in values over recent years much like many other global cities. As we look forward, although the tightening credit markets have already caused a reduction in supply, demand is expected to continue to grow.
We are now witnessing a generational boom in infrastructure investment, particularly in Sydney following a period of under investment. This investment in key transport projects will enhance our cities’ international reputation as business centres and a place to live.
While there have been recent policy changes directed at international buyers, we expect our key cities to remain attractive investmentdestinations. Sydney and Melbourne will continue to provide the security, freedom and space together with a high quality of life that is so attractive to foreign buyers who seek their own piece of the Australian dream.
New South Wales has the largest state economy in Australia accounting for almost one third of Australia’s economic output.
In the 2016 Cities of Opportunities ranking by PWC, a benchmark of the social and economic health of the world’s leading cities, Sydney ranked tenth globally. The city scored highly for economic power, sustainability, natural environment, health, safety and security.
Sydney is one of the most multicultural cities in the world with over 40 percent of residents born overseas and over 250 different languages spoken. Immigration has significantly contributed to the city’s rapidly growing population. Over the past ten years, the population has increased 18.2 percent to over five million people. Forecasts suggest this trend will continue and by 2036, the city’s population will reach 6.4 million.