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The Effect of Foreign Demand on Residential Property Prices: Evidence from Australia

Chris Wokker and John Swieringa

Australian Economic Review, 2020, vol. 53, issue 1, 35-49

Abstract: This study estimates the impact of foreign demand for Australian residential real estate on property prices. Using postcode‐level administrative data and fixed‐effects regression techniques we find a positive relationship between foreign investment approvals and price growth. Our analysis suggests that, on average, foreign investment contributed between $80 and $122 to quarterly price growth in Sydney and Melbourne between July 2010 and March 2015. This is a small proportion of the increase in property prices over the period.

Date: 2020
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