The most popular postcodes with offshore property seekers have been revealed, as returning migration makes renters’ lives even harder
The new owners will move in initially and might build a new home eventually.
“Increased migration will have a more significant impact on the rental market than the buy and sell market,” she said. It comes as Canada has banned foreigners from buying residential properties for two years as it faces its own affordability issues. Biggin & Scott Glen Waverley agent Julie Karl said Chinese buyers were attracted to the area for its education prospects, shopping and community.
Juwai IQI group managing director Daniel Ho said two key drivers were where children were studying and where family and friends already lived.Carlton, close to Melbourne University, is a popular suburb for renters. Source: Google Maps“We don’t expect Victoria to lose its Chinese buyer crown to Sydney in 2023,” he said.
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