Brexit could reel in more foreign investors for Australia

Brexit is likely to channel more foreign investors to Australia property experts say.

REA Group Chief Economist Nerida Conisbee says for offshore investors looking for a safe place to park their money, Australia is coming out as a sparkling first choice in the midst of the Brexit turmoil.

Despite a significant drop-off of foreign investment activity, caused in part by the recent property taxes put on non-resident buyers, Ms Conisbee said in The Daily Telegraph that the top priority for all investors, Chinese or not, was security.

International investors’ perception of Australia as a safe-haven is helping the housing market stay strong, says Nerida Conisbee.

“Foreign investors are more likely to turn to Australia as a result of the uncertainty caused by Brexit,” she said.

“Without a doubt, [Brexit] makes London look a bit more risky.”

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