Australian property prices are being pushed up by the influx of skilled immigrants coming into the country.
The impact of foreign immigrants on the price of property in the country is most marked at auctions, Residex's John Edwards told the Sunday Telegraph, which carried out the research.
Speaking to the newspaper, Mr Edwards said: "There's no question the number of skilled migrants is a key factor in driving up prices.
"You need only two highly paid buyers at an auction to take the price of a property well above what any other party could afford to pay."
Meanwhile, the government is attempting to make conditions for foreign businesses in the country more favourable.
A report published by the Australian Financial Centre Forum indicated that the country has the most competitive financial services sector in the Asia-Pacific region, making it an attractive place for business migration.
The impact of foreign immigrants on the price of property in the country is most marked at auctions, Residex's John Edwards told the Sunday Telegraph, which carried out the research.
Speaking to the newspaper, Mr Edwards said: "There's no question the number of skilled migrants is a key factor in driving up prices.
"You need only two highly paid buyers at an auction to take the price of a property well above what any other party could afford to pay."
Meanwhile, the government is attempting to make conditions for foreign businesses in the country more favourable.
A report published by the Australian Financial Centre Forum indicated that the country has the most competitive financial services sector in the Asia-Pacific region, making it an attractive place for business migration.
