The negative press on interest rates is not getting through to some buyers, who pushed properties in Sydney and Melbourne well over their reserves on the weekend.
Investors defy tougher lending conditions to bid in hot market
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Property speculators trying to secure Perth real estate while still in quarantine highlights the growing demand from investors attracted by capital growth and strong rental gains.
Karen Firth, a real estate agent for Bourkes in South Perth, where property prices are among the nation’s fastest rising, says buyers from interstate and overseas, who are in quarantine in the city, are requesting brochures and inspecting properties online before bidding.
Agents say investors are surging back to the local market despite higher borrowing rates and tougher lending conditions than for owner-occupiers.