According to the Property Investment Professionals of Australia (PIPA), the high-end segment of the housing markets is experiencing steady growth in values, which could be driven by cashed expats.
The top quartile of the housing market posted a 3.7% increase in values ??over the past month, according to new data from CoreLogic.
Peter Koulizos, President of PIPA, said expats go home with a lot of money, often in stronger currencies which boost their purchasing power.
“Expats from expensive cities like London, Hong Kong and New York often don't consider our property prices to be unaffordable and are happy to pay what is necessary to get a prestigious property in an attractive location,” he said. declared.
Selling prices in Sydney, for example, seem "insane" from the observation of PIPA members, Koulizos said. CoreLogic data shows prices in the upper part of Sydney rose 4.8% in the month, more than the 2.2% gain in the bottom quartile.
Some capitals also reported higher gains in the upper quartile compared to the lower end of the market, notably Melbourne (2.8% vs. 1.6%) and Brisbane (3.1% vs. 1 , 1%).
"Some properties sell for hundreds of thousands of dollars more than anyone – including experts – predicted, which leaves sellers very happy, but many buyers and investment professionals real estate are scratching their heads a bit, "Koulizos said.
]
Top suburbs:
lockridge
,
artarmon
,
nightcliff
,
Alexandria
,
rope crossing
Get help with your investment property
Do you need help finding the right loan for your investment?
When investing in real estate, it is important to ensure that you not only have the lowest available rate possible, but also have the right loan features for your needs. needs.
You only need to fill in a few details below and we will then arrange for a local mortgage broker to contact you and determine the characteristics or types of loans that suit your needs. We'll even help you with the paperwork. In addition, an appointment is free.
We value your privacy and take all your information seriously – you can check
our privacy policy here
