One in six homes bought by foreigners
Published: October 15, 2014 - 7:16PM
Foreign buyers are flocking to buy Australian property, snapping up one out of every six new homes - and that number is set to get higher.
Foreign demand for new homes surged in the September quarter and is tipped to rise further next year, according to the National Australia Bank's latest residential property survey.
Overseas buyers accounted for almost 17 per cent of total demand for new properties and in Victoria, they accounted for almost 25 per cent, or one in four new homes, the report said.
Foreign buyers were also more active in the established property market last quarter, accounting for eight per cent of demand.
Again, Victoria led the way, with foreigners accounting for a record high 11.5 per cent of established property demand, the report said.
Published: October 15, 2014 - 7:16PM
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Foreign buyers are flocking to buy Australian property, snapping up one out of every six new homes - and that number is set to get higher.
Foreign demand for new homes surged in the September quarter and is tipped to rise further next year, according to the National Australia Bank's latest residential property survey.
Overseas buyers accounted for almost 17 per cent of total demand for new properties and in Victoria, they accounted for almost 25 per cent, or one in four new homes, the report said.
Foreign buyers were also more active in the established property market last quarter, accounting for eight per cent of demand.
Again, Victoria led the way, with foreigners accounting for a record high 11.5 per cent of established property demand, the report said.