Australia 'has great appeal to British investors'

The majority of Brits who transfer money to Australia in preparation for a new life down under are keen to purchase houses in prime city locations.

This is according to editor of Australian Property Investor Eynas Brodie, who described how many investors are attracted to the country as they "have an affinity" with the nation and its way of life.

She commented that many people looking to settle in the vast land will choose homes that are located near to universities and transport infrastructure, rather than the more remote areas.

Competition may be high as it was noted that the majority "seem to prefer buying apartments and townhouses, as opposed to freestanding houses".

Queensland is said to have been a popular destination up until 2009-10, with many UK residents looking for property in the state.

However, a recent survey by Colliers International Research revealed Brits are no longer the most active foreign buyers in the region.

Before the slip, UK property investors has held the top spot for four years running, but in 2009-10 they fell to third, behind China and South Africa.

Ms Brodie suggested that the Australian way of life and the fact many people have enjoyed holidays in the country may have helped boost its popularity among Britons.

"It's a relatively easy transition to make in terms of lifestyle, given that there is no language barrier and the cultures are in many ways similar," she remarked.

The expert added: "Our education system, land availability and business opportunities make Australia an attractive proposition for UK and other overseas investors."

Finally, Ms Brodie noted that the "great weather" is also bound to tempt investors, along with the fact the nation is "politically safe" and allows foreigners to borrow up to 80 per cent in bank loans.

Posted by Sarah Pitton

Click here to make an International Money Transfer to Australia.