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12 month growth
Box Hill
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Mollymook
82.85%
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Cleve
78.13%
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76.2%
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75.57%
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70%
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Offshore investors take double hit

By Staff Reporter
05 November 2009 | 1 minute read

The recent rate hike by the Reserve Bank will have an adverse impact on overseas investors, CB Richard Ellis regional director of institutional investment properties Rob Sewell has claimed.

This will be the second blow for offshore investors who are currently struggling under the improved Aussie dollar.

“Overseas funds that need to borrow to offset their currency hedging will be impacted,” Mr Sewell said.

“While this will not affect the closed end funds, it will have an impact on the open ended funds that have been increasingly active in the Australian market.”

However, Mr Sewell said the premiums that banks were charging were beginning to ease for preferred customers and this would “take some of the sting out of the interest rate rise”.

CBRE executive, global research and consulting, Kevin Stanley, said an ongoing issue for the commercial market was the level of lending for commercial property investment and development, which was still well below long term averages.

“Banks are generally already overweight in lending to commercial property, so the cost of debt is not so much the issue at the moment; lowering LVR’s is,” Mr Stanley said.

Offshore investors take double hit
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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Enter your email to receive the latest real estate advice and tools to help you sell.