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Property demand from overseas grows further

Foreign buyers are continuing to support the growth of the property market in Australia.
The property market in Australia continues to be pushed into an area of strong growth by buyers coming to the country from overseas, it has been reported.

In the past year, Chinese buyers have emerged as being the most prolific investors in the nation as many in China are feeling more confident about their financial position and looking to spend on tangible assets as a result.

And now the National Australia Bank has confirmed that foreign buyers now make up a higher proportion of the demand for homes than ever before as of the end of March.

In the first quarter of this year, those from overseas accounted for 13.5 per cent of all housing demand for new builds, compared to just 11 per cent in the quarter at the end of last year. 

For existing stock, 9.5 per cent of all demand was from foreign buyers, compared to 6.5 per cent in the three months at the end of 2013. 

Posted by Craig Francis

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