{"id":24769,"date":"2021-08-11T08:53:48","date_gmt":"2021-08-11T01:53:48","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=24769"},"modified":"2024-09-23T19:18:42","modified_gmt":"2024-09-23T12:18:42","slug":"real-estate-in-australian-cities-boom-as-sydney-prices-rose-by-12","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/real-estate-in-australian-cities-boom-as-sydney-prices-rose-by-12\/","title":{"rendered":"Real estate in Australian cities boom as Sydney prices rose by 12%"},"content":{"rendered":"

As borders reopen and international students return, foreign investors may be looking to quickly buy Australian property<\/span><\/p>\n

\"\"
Sydney\u2019s growth is thin compared to the 30 percent-plus growth seen in Los Angeles, Montreal, Toronto, and Auckland. EkaterinaKamenetsky\/Shutterstock\u00a0<\/span><\/figcaption><\/figure>\n

According to Business Insider<\/a>, Australia\u2019s real estate market has\u00a0been running red hot, but the return of foreign investment can spike prices up to new levels.\u00a0<\/span>\u00a0<\/span><\/p>\n

New data\u00a0indicated\u00a0that while some capital cities like Melbourne and Sydney\u00a0have experienced double-digit price growth, their experience has been \u2018mild\u2019 in comparison to other cities around the world.\u00a0<\/span>\u00a0<\/span><\/p>\n

Sydney prices increased 12 percent or AUD140,000 (USD102,695), over the 12 months to March. As reported by Domain, median prices in Harbour City hit more than AUD1.3 million. <\/span>\u00a0<\/span><\/p>\n

Economic support, easy money, along will containment of the COVID-19 pandemic has led to the property boom and affordability concerns for buyers.\u00a0<\/span>\u00a0<\/span><\/p>\n

However, globally, Sydney\u2019s growth is thin compared to the 30 percent-plus growth\u00a0seen in Los Angeles, Montreal, Toronto, and Auckland over the same period.\u00a0<\/span>\u00a0<\/span><\/p>\n

Australia\u2019s largest cities are comparatively closer to the \u2018middle of the pack\u2019,\u00a0with Perth, Brisbane, and Melbourne all growing 9.7 percent, 8.2 percent, and 6.1 percent respectively.\u00a0<\/span>\u00a0<\/span><\/p>\n

\u201cAustralia has an appealing story of strong but relatively measured price growth. It\u2019s doing much better than global competitors such as London or Tokyo, where prices fell by six percent and seven percent respectively,\u201d\u00a0said\u00a0an analyst.\u00a0<\/span>\u00a0<\/span><\/p>\n

As Sydney and Brisbane rank among the top 10 most popular\u00a0cities with Chinese investors, it raises the potential of Australia\u2019s boom to continue when the country exits lockdown.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Australian developers continue to build as they see an end to COVID woes<\/strong><\/a><\/p>\n

The strength of the market, pent-up demand, and the return of students will drive Chinese investment to recover. <\/span>\u00a0<\/span><\/p>\n

The Australian market is already strong despite the lack of migration, but further upward price pressure will attract\u00a0buyers eager for a safe investment and afraid of missing out on an opportunity.<\/span>\u00a0<\/span><\/p>\n

\n

The Property Report editors wrote this article. For more information, email:\u00a0<\/span><\/i>propertyreport@propertyguru.com<\/span><\/i><\/a>.<\/span><\/i>\u00a0<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

As borders reopen and international students return, foreign investors may be looking to quickly buy Australian property<\/p>\n","protected":false},"author":12,"featured_media":24770,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[149,112,528,1282],"class_list":["post-24769","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-australia","tag-foreign-investment","tag-market-update","tag-property-prices","news_country-australia","news_author-property-report"],"acf":[],"yoast_head":"\nReal estate in Australian cities boom as Sydney prices rose by 12% | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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