International Healthcare News: Australian property 'unaffordable'
20/05/10 12:24
Expatriates hoping to move down under could find Australian property prices are "wildly over-inflated and unaffordable", an industry expert has warned.
Christopher Chadd, head of research at Property Frontiers, said unfavourable exchange rates have made buying a home in the country "far too expensive" for British expats.
"Couple this with an economy that never really experienced a recession and has seen property prices actually increase over the past two years and you have a market that is wildly over-inflated and unaffordable to anyone without deep pockets," he said.
Mr Chadd noted that increases in air fares coupled with rising property prices is hindering expatriates' ability to access Australia.
His comments follow research by Rightmove Overseas which found that searches for Australian property fell by 27 per cent in April – the biggest fall of any of the company's top 40 locations.
People thinking of making the move to Australia could consider taking out expatriate health insurance to help with costly medical fees.
Moving abroad? Get a free quote for your international medical insurance online.
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