The share of foreign buyers in the Austr

The share of foreign buyers in the Australian residential property market is declining, according to The National Australia Bank’s Residential Property Survey for the first quarter of 2016.
Concerns about inflated prices, fraud, and money laundering have resulted in a raft of measures aimed at constraining foreign purchases of local property.
The banks have tightened lending to foreigners, the FIRB has cracked down on illegal purchases, and both state and federal governments are beginning to impose new taxes on foreign buyers.
The latest numbers from NAB’s Residential Property Survey show the policies are beginning to take effect.
The percentage of foreign buyers in the Australian property market fell to a two-and-a-half-year low for both new and established homes during the first quarter of 2016.
Foreign buyers accounted for 11.8% of new property sales during the March quarter, compared with 14.4% the previous quarter. And in established property markets, foreigners accounted for just 7.2% of all sales, a decline from 8.6% the previous quarter.
Foreign buyers were less prominent in all capital cities, except Brisbane, which saw foreign buyers account for 21.9% of demand for new property, compared with 20.9% the previous quarter. The share of foreign buyers in Queensland’s new property market has now risen for three consecutive quarters.
The authors of the NAB Residential Property Survey said of Queensland, “The market share of foreign buyers in new property markets has grown for three consecutive quarters and may suggest that they are being attracted by lower average prices there.”
The decline in demand from foreigners was the sharpest in Victoria, where the share of foreigners in the new property market fell to 10.7%, well down from the survey high of 32.5% experienced in the last quarter of 2014.

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Removing the Hassle from Sales and Rentals across South East Queensland. Aim to Empower other like minded Property Investors. L J Gilland Real Estate is a prestigious boutique agency specializing in Property Investment Management Services and the Sales of Investment Properties with tenants in place. Comprised of a top performing group of handpicked specialists, our Agents proudly serve Property Investors in Queensland. Since 1996 our Agency has demonstrated a genuine enjoyment of working with people, developing long-term relationships and delivering on the promise of great service. Carlos and Linda Debello offer property investor's the confidence to sell and lease in any market. We provide comprehensive market appraisals, exclusive multimedia marketing campaigns, and knowledgeable, highly personalized counsel on all aspects of real estate. Our Property Management Team is equally considerate, offering investors with in-depth advise, well-researched rental valuations, and highly professional rental management services. Carlos’ direct mobiles are 0400 833 800 & 0413560808. Linda’s mobiles are 0409995578 & 0414978700 (prefer email contact for Linda). Office 07 3263 6085.
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