Good points, people,
And re Acey's comment aboutI've never heard that o/s buyers were the driving force in the property market - have a think about this:-
I have heard (haven't checked, but you can) that o'seas buyers make up nearly 50% of sales of units in Aust capital cities. Fair enough - I haven't checked, simply because I don't buy "units in Aust capital cities".
OK, now, IF those same o'seas buyers had reason to sell off some of these, what happens - well, first off, these are now "second hand units" - and, as such, are NOT eligible purchases for other overseas buyers !!!!!!!!!!!!!! (Check the firb website).
So, the numbers of buyers has just reduced by half !!! Supply and demand curve? Which way is it now headed?
In effect, then, Acey, I think o'seas buyers can have a marked effect on the property market (at least in units in capital cities...)
Camments?
Regards,