Returning expats are adding to the competition for houses in Sydney.

A wave of Australians returning home due to COVID-19 is contributing to growing property prices.
With DFAT figures showing 389,000 Australians having returned home since March, many industry figures believe the demand for property from expats combined with a shortage of stock across the state could lead to extremely high housing demand and price growth.
Many agents across Sydney are already seeing a willingness from expats to pay premium prices for the little stock available.
Max Walls International agent Anthony Walls, who specialises in the expat market, said he has noticed expats outpricing locals for many properties, including one who paid 20 per cent above the asking price due to the weak Australian dollar.
DFAT reports 389,000 have returned home since the pandemic started in ...

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