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Foreign real estate investment, residential tourism and the Australian residential property market

Peng Yew Wong (School of Property, Construction and Project Management, RMIT University, Melbourne, Australia)
David Higgins (School of Engineering and the Built Environment, Birmingham City University, Birmingham, UK)
Ron Wakefield (School of Property, Construction and Project Management, RMIT University, Melbourne, Australia)

International Journal of Housing Markets and Analysis

ISSN: 1753-8270

Article publication date: 20 November 2017

Issue publication date: 20 November 2017

1276

Abstract

Purpose

This research aims to focus on the emerging determinants for the Australian residential property market subsequent to the Global Financial Crisis 2008.

Design/methodology/approach

Quantitative models built on secondary data were tested on three residential property markets comprising metropolitan Melbourne and two key suburbs in the state of Victoria. The relationship between the house price performances and various leading Australian economic indicators was assessed.

Findings

As a result of the increasing relevance of Asia Pacific private wealth in the Australian residential property market, non-traditional determinants such as residential tourism have emerged as significant in the Melbourne residential property market.

Research limitations/implications

The result of this study can provide a better understanding on the relationship between the Australian residential property market and both the existing and emerging leading economic indicators.

Originality/value

A better understanding of foreign investment activities will assist policymakers to effectively manage inflated Australian residential property market without compromising the steady flow of foreign real estate investment.

Keywords

Citation

Wong, P.Y., Higgins, D. and Wakefield, R. (2019), "Foreign real estate investment, residential tourism and the Australian residential property market", International Journal of Housing Markets and Analysis, Vol. 10 No. 5, pp. 586-606. https://doi.org/10.1108/IJHMA-01-2017-0007

Publisher

:

Emerald Publishing Limited

Copyright © 2017, Emerald Publishing Limited

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