Australia – The Land of Opportunities!
Last year saw the return of thousands of Australians who had been living abroad. Many of them have decided to return to their homeland to ride out the pandemic, and with them has come a significant amount of capital ready to invest into the local property markets.
Typically, returning expats are mid-to-late-career people, and financial security is important to them: they’re ready to invest. Whether it’s renting or buying property, they’re stimulating the real-estate market across the country.
With Australia being close to the top of the list of best countries to live in 2020, it’s no wonder that there’s many migrants also entering the country. Although border closures have restricted the flow somewhat, action is likely to ramp up as international travel resumes, with the housing market forecasted to remain hot throughout 2021.
Why Are They Choosing Australia?
Australia is a land of opportunities. As locals born and bred in the country, we scarcely realise how lucky we are! Australia represents a beacon of hope and safety in a world that’s torn by war, threatened by economic instability, and caught in the grip of a pandemic for many migrants and expats. And it’s more than just the breathing room, sunshine and beaches: economic stability, strong government, excellent education opportunities and superior healthcare are just a few of the benefits we can easily take for granted.
- Personal Safety
Low crime rates, even in our capital cities, is a very powerful drawcard. Listed among the top 10 safest countries in the world, Australia’s reputation as a safe place to live continues to grow and shine.
- Healthcare/Pandemic Management
Australia’s healthcare system has always been enviable, with access to professional help being available to all. However, our country’s prudent management of Covid-19 has taken this international respect to the next level.
While many nations have been swamped by the pandemic and their healthcare systems severely over-taxed, in Australia we’ve experienced relatively low case rates, compared to other nations.
- More Elbow Room
Our sunburnt country is famous for its wide-open spaces! In a time when we’ve learned to value our personal space, the low population density in Australia is very attractive. Even in our capital cities, living conditions are excellent and the small population means there simply isn’t the same risk of catching the virus.
- A Strong Economy
Welcome 2021 in Australia with where the economy remains buoyant and energetic, even in a time of global uncertainties! Strong economic management and excellent government stimulus packages continue to encourage economic growth and property investment.
While nations with volatile economies have seen crashes in their housing markets, the Australian property market has remained resilient and is seeing significant growth as 2021 unfolds.
- Employment Opportunities
For migrants entering the country, there’s a bounty of employment opportunities on offer. Everyone in Australia has the right to earn a living.
For expats returning from overseas, the era of working-from-home has taken on a new perspective: many have learned to conduct overseas business in the comfort of their own home office! Recent global events have encouraged many people to re-evaluate their lives and priorities and decide where they want to spend their future.
- Multi-cultural Society
Australia is world-renowned for its friendliness and respect for people of all nationalities and religious backgrounds. Social equality is part of our culture. The country combines a rich tapestry of cultural diversity, with individuals from every part of the globe calling it home.
- Investment with Ease
While many countries have very restrictive laws on foreign investment, foreign citizens can invest in Australia with relative ease, albeit with added taxes. Individuals can invest – it’s not necessary to set up a company.
Where’s the Action Happening?
There’s certainly no lack of great places to live here down under! And with Melbourne dubbed as one of the country’s most livable cities, there’s no shortage of action happening here.
Despite extended lockdowns, the Victorian capital is experiencing a feverish amount of real-estate action, involving both the detached housing sector and the rental market.
Government stimulus packages and first home buyer grants have also stimulated buyer participation, with many newbies entering the housing space.
The last week in January 2021 saw a record 388 home auctions held across Melbourne city! And within the last few weeks, 90% of the properties taken to auction have sold.
While many locals are shifting their sights to bigger properties in the city fringes and suburban areas, it is likely that returning expats and migrants will help to boost the rental sector in the CBD.
Want to learn more about what we’re seeing unfold for the local market in 2021? Get in touch here.
Stunning image of Melbourne shot by Lensaloft.