🚀 expats ready to splurge on aussie properties...

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INTERNATIONAL INVESTORS

US buyers on the hunt for Aussie properties

Amidst the turmoil in US politics, Americans could be turning to Australia for some respite. International searches for Australian properties surged in July, with US buyers leading the charge—up 51 percent year-on-year. Experts suggest political uncertainty and Australia's stable economy are driving factors. Beachside suburbs like Manly, NSW, and Brighton, VIC, are particularly popular among American and British searchers.

Data doesn’t lie

The PropTrack data shows a 9 per cent month-on-month and 3 per cent year-on-year rise in property purchase searches, led by a mega 51 per cent surge from the United States.

Who is buying? 

Besides the US, countries like India, Singapore, and the UK have also shown increased interest in Australian properties. What’s more? Agents are seeing more expat interest in top-end properties, with international buyers ready to spend big bucks.

Kevin Chokshi from Ray White Cheltenham said that there’s been a noticeable interest in the higher end of the market.

"For premium properties, we’re definitely seeing interest from expats

Australian buyers who live overseas—rather than international buyers per se,” Mr Chokshi said.

“It seems the thinking is to buy while the market is slower, especially with the current immigration trends.

The love affair with Chinese buyers continues…

Mr Chokshi said our steady economy, free and open market, and Western society are all factors that make Australia a desirable destination for international property buyers.

“We often see a lot of Chinese investment … Australia offers a lot of great properties, it’s a fantastic place to live, and it’s a very safe place to invest your money, so it’s understandable why it’s a popular destination.”

ICYMI, yesterday we covered some tips on what it really takes to succeed in real estate.

TOGETHER WITH AREA SPECIALIST*

Find out how Jaymee Le juggles playdates and property deals

Balancing motherhood and real estate is no easy feat, but for Jaymee Le, who has four kids ranging from toddler to adult, balancing nappies and negotiations is all a day’s work. From door-knocking her way into the industry as a single mum to closing deals days before giving birth, Jaymee’s story is one of grit and serious hustle. Her secret? The flexibility of real estate with a move to Area Specialist — and, of course, the power of a determined mum on a mission.

"I closed my last deal about four days before I went into the hospital … I was back on the phone closing deals about five days after giving birth.”

Who needs a 9-to-5 when you can rock the housing market and still make it to the school excursion?

SMART SNIPPETS

It looks like Australia’s property market has flipped the script. Over the past three months, apartment prices have surged ahead of houses in nearly every capital city. So, what’s driving this apartment craze? According to Adrian Wilson of Ayre Real Estate, after the COVID-induced escape to rural homes, people are flocking back to metro areas. Plus, with new apartment developments in short supply, prices are rising fast.

How much patience do you need to sell a luxury property? In the case of one New York agent, it took over a decade (and probably a few grey hairs) to close the deal on a fabulously luxe penthouse at 50 United Nations Plaza in Manhattan. Initially listed for US$70 million in 2013, the duplex sat on the market through multiple price cuts before it found a buyer for the bargain (*cough) price under US$40 million. Despite its incredible features—spanning 9,700 square feet with panoramic East River views and a private pool, the sale highlighted the challenges of moving ultra-luxury real estate both here and in the US.

SOUND WAVES

7 strategies for creating opportunities in your business

Today’s curated listen is all about strategies to regain control in your real estate business. Listen in on this 2-minute overview

AGENTS ON SOCIAL

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Wishing you a productive day

Elite Agent is crewed by Mark Edwards, Catherine Nikas-Boulos, Rowan Crosby, and Samantha McLean. We aim to uplift the real estate industry by delivering forward-thinking, hype-free news and education that fosters knowledge and fuels ambition.

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