The strength of the Aussie dollar combined with the collapse of the US housing market is proving an enticing combination for Australian investors.
Sean O’Hare from Foreclosed American Homes in Cannington, Perth, said the group had seen a big influx in the number of investors, particularly those based in WA, purchasing properties in the United States.
Mr O’Hare said investor interest in US property at the recent Property Investor Show in Perth was also strong.
“We were overwhelmed by the response we received,” he said.
The high Australian Dollar combined with the flat WA property market were key reasons for the growing interest in the US, Mr O’Hare said.
“We kept hearing the same story—investors were sick of overpriced property, especially in Perth, and have flocked to high-yielding US property.”
Mr O’Hare conceded that there were stories of investors being duped in the USA, but with the right advice and research, investors could reap significant benefits from investing in the United States.
“It is just a matter of having the right advice and knowing where to look.”