Buyer’s agents are warning that acquisitions of Australian property by offshore buyers have added 10 per cent to prices, according to The Australian.
Less than a fortnight ago a report revealed that international investors were circumventing laws on foreign purchases, with buyer’s agent David McRae saying the impact had been underestimated by regulators.
"We regularly get knocked off by certain sections from overseas and money is not an object to them," he told The Australian.
"Let me tell the Reserve Bank: it is a problem and it’s going to become a much bigger problem if they don’t do anything about it because the local population is being priced out.
"These guys really don’t understand the impact that it is having."
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Unlawful buying of Australian homes seen pushing prices up sharply: report.
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