A “growing” Australian Dream
Overseas interest in Australian property for both buyers and renters saw significant increases.
With the opening of more national borders, foreigners are flooding the Australian property market as migration booms post-Covid, Sydney's housing crunch continues to grow.
According to REA, overseas interest in Australian property for both buyers and renters saw significant increases.
Total number of visas issued in 2022 is 10 times higher than the previous year and the rental market in urban areas continues to boom in 2023.
A landlord’s market
Domain chief of research and economics Dr Nicola Powell referred to the current situation as “a landlord’s market” and called available rentals “a drop in the ocean compared to what we need”, per SMH.
TikTokers are revealing the abject chaos of finding a place in the Sydney city area rental market.
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