The strong Australian dollar has done little to cool overseas demand for real estate as foreign cash seeks out a lucrative home in the nation’s residential property market.
Real estate agents say overseas-based bidders are increasingly common at auctions around the country, with the resulting additional demand stoking already rising clearance rates and prices.
John Bongiorno, director of Marshall White & Co, in Melbourne said international buyers had typically made up 5 to 10 per cent of sales, a figures that had recently risen to about 15 per cent. And the dollar’s rise had not yet dampened demand.
More : brisbanetimes.com.au
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