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Aussie property seen poorly by overseas buyers, residents

07 November 2018 Sasha Karen

The results of a new survey of expats and migrants reveal that overseas residents think Australian rents and property prices are one of Australia’s worst offerings.

Poor quality

The results of a new survey of expats and migrants reveal that overseas residents think Australian rents and property prices are one of Australia’s worst offerings.

The results from the WoldFirst Liveability Ranking assessed the views of 755 foreign residents on 20 aspects of Australian life in comparison with 67 other countries.

Out of all 20 topics, Australia’s quality of life was determined to be the country’s best aspect.

However, rental prices were ranked as Australia’s worst feature with a score of 5.2. Following this was property purchase prices at 5.5.

Patrick Liddy, head of foreign exchange at Worldfirst, said that while it was no surprise that property-related prices were surveyed so poorly, it did not necessarily mean they were viewed as bad aspects overall.

“It is encouraging that migrants and expats rank Australia highly, with none of our offerings falling below a 4. Even the worst aspects of Australia — our property and rental prices — scored above 5, which means they are just above average,” Mr Liddy said.

The cost of living was also not thought well of in comparison, ranking as fourth worst with a score of 5.9, while public transport was seventh worst with a score of 6.2.

Despite these low-scoring property and liveability aspects, job-related aspects were thought of highly.

Wages ranked fifth best with a score of 7.4, the Australian work/life balance sixth best with a score of 7.2, career opportunities seventh best with a score of 7, financial security eight best with a score of 6.9, and job security ninth-best with a score of 6.9.

“While it may seem that most people move abroad for work-related reasons, quality of life and safety are Australia’s biggest drawcards. Though, Australia does provide career opportunities and a financial safety blanket for many expats and migrants who move here, with job-related factors all scoring in the top 10,” Mr Liddy said.

The full results of the WorldFirst Australian Liveability Ranking, from worst to best, are:

Rank

Aspect

Score

1

Rental prices

5.2

2

Property purchase prices

5.5

3

Politics

5.9

4

Cost of living

5.9

5

Nightlife

6.2

6

Local media

6.2

7

Public transport

6.3

8

Making friends

6.4

9

Arts and culture

6.4

10

Local cuisine

6.5

11

Culture

6.5

12

Job security

6.8

13

Financial security

6.9

14

Career opportunities

7.0

15

Work/life balance

7.2

16

Wages

7.4

17

Healthcare

7.5

18

Weather

7.5

19

Safety

7.7

20

Quality of life

8.2

Out of all the respondents, the largest demographic came from those born in the United Kingdom and the Republic of Ireland at 30 per cent; then China, Hong Kong, Singapore, Japan and Korea at 10 per cent; India at 8 per cent; the Philippines at 5 per cent; North America at 5 per cent; and New Zealand at 2 per cent.

Aussie property seen poorly by overseas buyers, residents
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