International and local investors will continue to dominate the property market moving forward.
Speaking to The Adviser yesterday, Australian Property Monitors senior economist Andrew Wilson said Australia was a standout economic performer, which was helping to attract international investors to our shores.
“Last week Australia really led the world in terms of its stock market rally. While other countries suffered, we held our ground. The economic instability across the globe has helped promote Australia as a safe haven for investors,” he said.
“Asian investors in particular are really attracted to brick and mortar investments and Australia’s property market has held up really well in the last few years. We are starting to see more and more Asian investors buy property and I believe this is a trend we will see for some time.”
But while Australia’s property market continues to attract international investors, Mr Wilson said it was also a good time for domestic investors.
“If you have the money to buy, then now is a good time to do it, with property prices near the bottom of the cycle."