In this episode of In Focus, brought to you by La Trobe Financial, demographer and author Bernard Salt AM and La Trobe Financial’s chief lending officer, Cory Bannister, outline how the pandemic has impacted immigration and the ability for overseas buyers, including Aussie expats, to borrow right now.
Brought to you by La Trobe Financial
Earlier this year, Prime Minister Scott Morrison announced that Australia's international borders would close, drastically curbing the country's net migration levels.
Annual migration is estimated just to be 34,000 this year - largely from returning Australians - just a fraction of what the country was generating pre-coronavirus, and markedly below the levels needed to maintain GDP growth (approximately 210,000 a year).
But while it could be years before immigration levels reach pre-COVID levels again, there is still huge interest from overseas buyers in purchasing Australian real estate.
Finding lenders that will lend to international buyers is therefore key to ensuring that these borrowers can purchase property here, and help minimise the economic blow of low immigration.
Tune in to find out:
All this, plus much more!
Find out more about La Trobe Financial’s finance options for non-resident and expatriate borrowers.
Annie Kane is the editor of The Adviser and Mortgage Business.
As well as writing about the Australian broking industry, the mortgage market, financial regulation, fintechs and the wider lending landscape – Annie is also the host of the Elite Broker and In Focus podcasts and The Adviser Live webcasts.
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