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The Credit Suisse doc says foreign investment is 25% of the state of NSW, and 16% of Victoria. But I wonder what the percentages are for Sydney and Melbourne.
by dcw303 9y ago
The Credit Suisse doc says foreign investment is 25% of the state of NSW, and 16% of Victoria.
But I wonder what the percentages are for Sydney and Melbourne. My anecdotal evidence is that foreigners don't really buy outside the capitals, so I expect it to be much higher.
Which would have a stronger effect on property prices, as the capitals tend to drive prices for the smaller towns.
- poynt 9y agohi dcw303, i have a blockchain related question for you, is there a more private way to reach you? I followed you on twitter, I'm @zippyferguson.
- jpatokal 9y agoThe figures are specifically for newly completed supply, the vast majority of which is also in Sydney and Melbourne. They aren't building teetering 30-story apartment towers in Dubbo or Wagga Wagga.
- flukus 9y ago> But I wonder what the percentages are for Sydney and Melbourne. My anecdotal evidence is that foreigners don't really buy outside the capitals, so I expect it to be much higher. They might not be interested in country towns but they are very interested in booming coastal towns like Gold/Sunshine Coast in Queensland, I'd assume the some would hold in places like Byron Bay and Coffs Harbor.