A decline in foreign investors has been reported by NAB Residential Property Survey Q3 2016, as Australian owner-occupiers regain a greater share of the market.
The national average has sunk to 10.2% of the market (the lowest since 2012), following a decline which started a year ago. Brisbane has fallen to 10.5%, it’s lowest since Q1 of 2015.
The NAB cites tighter lending restrictions as the main driver of the decline in foreign investment.
Owner-occupiers are reported to now account for 32.8% of new property sales, while first-home buyers (both investors and owner-occupiers combined) are estimated at 31.2%, proving home ownership to still be a possibility.