This is the advice given by the editor for A Place in the Sun magazine, Liz Rowlinson. When asked about what British migrants should consider before buying Australian property, she said that they should prepare for getting a residency and whether or not they can afford the lifestyle.
Compared to Britain, Australia’s economy is much stronger. This is proven by how high the Australian dollar is compared to the British pound, which has dropped considerably in recent times.
For people who have key professional skills, they could sign up for a skilled migrant visa. They will be tested against a points system to see if they are eligible for the visa, although the process could take a few years.
Australian property is also known to be expensive compared to other developed countries worldwide. For foreign property investors, this could be pricey at first but means that they could expect a high price for their property when they move.
Posted by Ravin Chatlani