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Foreign investors turning backs on Australian residential property

Foreign investors continue to turn away from Australian residential real estate, with the latest figures showing the value of transaction approvals collapsing.

Scenic view of Brisbane River and Cityscape from Kangaroo Point Cliffs late afternoon
Queensland has overtaken New South Wales in attracting foreign investment in residential real estate.

Foreign investors continue to turn away from Australian residential real estate, with the latest figures showing the value of approvals collapsing to $10.4 billion, from more than $17 billion a year earlier.

The Foreign Investment Review Board Annual Report showed that to the end of the 2021 financial year, residential investors were approved to make just 4,384 residential real estate investments, down 37.8 from a year earlier.

While much of th…