More than a quarter of new QLD homes sell to foreign buyers: ANZ

PHOTO: Crowds attending the auction of a home in Brisbane. Picture: Peter Wallis.

MORE than a quarter of new homes built in Queensland are being bought by foreign buyers, according to new research from one of Australia’s big four banks.

Foreign investors are estimated to have bought between 11,000 and 18,000 homes in the state during the 2015/16 financial year, making up 10 to 15 per cent of total housing turnover.

But the number is significantly higher when it comes to new homes, with foreign buyers purchasing between 25 and 45 per cent of newly-constructed dwellings in Queensland in that period, according to new research from ANZ Bank.

READ MORE VIA REALESTATE.COM.AU