(Australian Broker)
The global credit crisis has had at least one positive spin-off. According to X Inc Finance Brokers, the crisis is driving expatriate Australians home, pushing up interest in property markets nationwide. Loan Market Group CEO Jennifer Nielsen said inquiries for expat home loans had escalated in recent weeks.
“There is strong interest from expatriate Australians, many of them banking and finance professionals, who are looking to return home to escape the credit crunch in places like London and Singapore”, Nielsen said.”They want to buy property before they come back.”
Nielsen expects interest from expats to increase due to the reduction of home mortgage rates in Australia and the government’s $10.4bn economic package. The drop in the value of the Australian dollar would also make buying property more attractive.
