Permanent and long-term overseas arrivals continue to climb
  • 17 October 2019

Permanent and long-term overseas arrivals continue to climb

We always talk about what will keep our house price growth going strong?

Is it low interest rates?

Is it the economy?

These are obviously critical, but one of the main drivers is . . . population growth.

We can have all the supply we want, but without demand, there will not be a requirement for more housing, nor capital growth.

In August, there were 62,500 permanent and long-term arrivals in Australia. The annual number of permanent and long-term overseas arrivals rose from 844,680 people to 846,510 in August, up by 3.0 per cent over the year.

In net terms (arrivals less departures) permanent and long-term overseas arrivals totalled 299,410 over the year to August – a 5-month high.

This is playing out at the moment, as Domain reports that the rebound in Sydney and Melbourne had seen forecasts changed as buyers returned to the market after recent interest rate cuts, Domain economist Trent Wiltshire said.

“The property markets have rebounded more strongly than we forecast back in June,” Mr Wiltshire said.

“Based on recent indicators, it looks like price growth over the next 12 months could be above 5 per cent, maybe even around 10 per cent.”

He said prices could be close to their peak levels by the end of next year

It was also reported by David Plank, head of Australian Economics with ANZ.

ANZ was also revising its recovery predictions of a 3 to 4 per cent improvement in house prices over the next 12 months given how quickly prices had turned around in recent months. 

Along with interest rate cuts, changes to lending criteria and the federal election outcome ensuring negative gearing tax incentives would remain in place had also seen a faster recovery since May.

Make contact with your Property Mentor or enquiries@propertyclub.com.au for further information, so you can get the right properties in the right areas, best selected for capital growth!

Troy Gunasekera | National Manager

Related Posts

Onsite Managers/Caretakers – The Good, the Bad and the Ugly

Onsite Managers/Caretakers – The Good, the Bad and the Ugly

If you are a property investor who owns a unit, you may well have bought into a development whose Body Corporate engages an Onsite Manager or Caretaker (hereinafter referred to as an OSM). Now some OSM’s are good, and some are bad, and some are outright ugly! If your complex has a good one, breathe a sigh of relief...

🌟 Property Market Update with Clifford Bennett | June 2024 Edition 🌟

🌟 Property Market Update with Clifford Bennett | June 2024 Edition 🌟

Welcome to our latest property market update! In this video, renowned economist Clifford Bennett shares his expert insights on the current trends, challenges, and opportunities in the property market. Whether you're a homeowner, investor, or simply interested in real estate, this update is packed with valuable...

Western Australia leads nation in property investment growth, offering hope for renters

Western Australia leads nation in property investment growth, offering hope for renters

Western Australia has recorded the highest growth rate in property investment of any Australian state over the past year, with investor lending reaching a record $1.15 billion in April 2024, according to the latest ABS figures. Kevin Young, President of Property Club, said that property investment activity in WA has...

Become a Member Today!

Our mission is to help the average Australian learn the property market dynamics and discover the amazing opportunities that exist in real estate.