I still call Australia home
Living abroad for travel, career or family is still the norm, for 310,000 Aussies. However, with coronavirus sweeping the globe, expats are flocking back home to Australia from Europe, US, the UK and Asia to a relatively normal lifestyle despite the pandemic.
While Covid-19 restricted Australian residents from returning during the height of the outbreak, around 398,000 Australians have returned since mid-March 2020 [2] and numbers of residents have been steadily increasing since October 2020.[1] Australia continues to have one of the lowest worldwide infection and mortality rates from the virus and the Australian Government has invested more than $3.3 billion into four separate agreements for the supply of proven, safe and effective vaccines. At the time of print, Australia has already received over 25,000,000 does of Covid-19 vaccines, sufficient for 50% of the population to receive a 2 dose regime with more on the way. [3]
It seems the vaccine rollout is spurring on confidence in the Australian property market as well as gleaning interest from overseas buyers. Sean Hughes, director of one of Australia’s top performing real estate offices, Realmark Coastal, recently reported a dramatic increase in the number of buyers bidding on unseen properties in an effort to beat future price hikes. “Quality Perth properties are still in high demand and people are increasingly comfortable with buying homes they’ve only inspected online and we’re still seeing offers above market price and fielding multiple offers on residences.” Sean says. [4]
According to a survey undertaken by Knight Frank[5] 64% of expats, said the global lockdown had influenced their decision to buy a property in their home country. With real estate prices set to rise over the next year and property demand only increasing, many may even consider a return to the land down under to prepare for a more secure future in a post-Covid world.
One development Sean and his team are very much looking forward to helping buyers capitalise on, is a stunning over 55s strata title opportunity in Scarborough, Western Australia. Altum is the epitome of luxury, tailored to suit those who value a lock and leave, maintenance free lifestyle less than 450 meters from one of Perth’s best beaches, Scarborough Beach. Boasting an indoor heated pool, concierge, gold class style cinema, gymnasium, yoga and Pilates studio, a massage treatment room, lounge, private dining, wine room and so much more. “If another lockdown comes, I would like to know my parents are not only safe but thriving in a luxurious setting where they can still exercise and enjoy their lifestyle with minimum disruption” says Altum owner builder Michael Lawson.
There are only 43 apartments across the two towers still available. With no exit fees, and stamp duty rebates of up to 75% available until construction starts, there is real incentive to join your fellow Aussies choosing to return home to live the resort lifestyle, that luxury apartment living provides and indeed a lifestyle that many have become accustomed to living abroad.
The McGrath Report 2021, analysing trends in the Australian property market, observes expats taking up new opportunities to work remotely from Australia and predicts others will come home for the health benefits post vaccine rollout, with expats returning home likely to drive the demand for owner occupied premises.[6] While the world hopes a vaccine will restore a sense of normality, perhaps it’s also a window of opportunity to consider what you envisage the future may look like for you and your family. No matter how far or wide you roam, we look forward to welcoming you back home. To learn more about Altum’s over 55 luxury apartments, click here.
[1] Media Release: 18/01/2021 Australians continue to return home https://www.abs.gov.au/media-centre/media-releases/australians-continue-return-home
[2] Media Release: 16 October 2020 DFAT More flights helping Australian return https://www.foreignminister.gov.au/minister/marise-payne/media-release/more-flights-helping-australians-return
[3] Australian Government Department of Health 17 February 2021 Australia’s vaccine agreements | Australian Government Department of Health
[4] FEATURE ARTICLE: Feb 7, 2021 Lockdown sparks 37 offers in one day – new level of Perth property demand https://www.therealestateconversation.com.au/news/2021/02/07/lockdown-sparks-37-offers-one-day-new-level-perth-property-demand-says-realmark
[5] Research Article: Knight Frank June 10,2020 COVID-19 sparks expat re-evaluation https://www.knightfrank.com.au/blog/2020/06/10/covid19-sparks-expat-reevaluation
[6] McGrath Report 2021 https://issuu.com/mcgrathestateagents/docs/mcg013_mcgrath_20report_202021_digital_all_fa_2_sp
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