How to use the migration patterns to invest in property
The face of Australia is changing. And it is mainly due to the changing migration patterns.
According to the most recent Australian Bureau of Statistics (ABS) migration report, India has overtaken China and New Zealand as the third biggest source of migrants in Australia.
With over 1 million people migrating to Australia since the last census in 2016, the numbers reveal a changing face of Australia.
In this short video, Wealthi co-founders Peter Esho and Domenic Nesci talked about the implications of the changing migrant composition to investment property.
Whether you’re a first-time home buyer or a property investor in search of some growth suburbs or areas where you can buy a property, this video provides some useful insights.
For example, Peter highlighted how the different waves of migrants in the 1970s, 1980s and 1990s – e.g. Europeans and Asians – impacted the demand for different types of housing. He talked about the changes in housing styles have evolved as people from different ethnic backgrounds settled in Australia.
“What we saw over the decades is that people tend to live among and closer to the people of the same or similar ethnic background,” Peter said.
He added, “People want to live in a community and this is important to consider. Migrant families want to live close to each other, so it’s possible that when a migrant family grows and eventually disperses, they would tend to buy in the same area or somewhere close by.”
In the meantime, Domenic revealed some of the growth areas in Melbourne, Perth and Canberra where investors are now buying into. He said while Sydney is still a big attraction, Melbourne and Perth are offering more value to those who are looking for affordable properties.
Here are some of the highlights of the recent ABS migration report:
1 million people have migrated to Australia since the 2016 census
Almost half of all Australians (48.2 per cent) had a parent born overseas
More than a quarter were themselves born overseas
For property investors, the changing face of Australia due to migration is an important indicator of what type of accommodation will be in demand in the coming years.
If you want to know more about the impact of changing migration to the property sector and find out the 3 top locations to invest in Australia book a meeting with our team: