There will be an increase in Australian property transactions as more skilled migrants enter the country, an expert has predicted.
There is set to be an increase in the number of people purchasing Australian property following an influx of skilled migrants, it has been claimed.
Joshua Williamson, an economist from Citigroup, told the Associated Press that he believes the recruitment of more skilled workers from overseas will also lead to Australian nationals renting for longer rather than taking their first steps on the property ladder.
"For first-home buyers to get a foothold in the market, they are probably going to have to go further away from the main central business district in order to secure themselves a home," he said.
Mr Williamson added that he expects interest rates to increase again later in the year, after the Reserve Bank of Australia decided to hold them at 3.75 per cent last week.
There is set to be an increase in the number of people purchasing Australian property following an influx of skilled migrants, it has been claimed.
Joshua Williamson, an economist from Citigroup, told the Associated Press that he believes the recruitment of more skilled workers from overseas will also lead to Australian nationals renting for longer rather than taking their first steps on the property ladder.
"For first-home buyers to get a foothold in the market, they are probably going to have to go further away from the main central business district in order to secure themselves a home," he said.
Mr Williamson added that he expects interest rates to increase again later in the year, after the Reserve Bank of Australia decided to hold them at 3.75 per cent last week.
