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Offshore banks step in

Australia's 'spring-selling' real estate season has seen a defiant return of overseas buyers.


After major Australian banks turned off funding to overseas buyers early this year, many real estate agents around the country confirm that foreign buyers have found new avenues to re-enter Australian property market, including targeting more affordable properties and settling in cash.


Because Australian banks now have stricter lending requirements -overseas banks including United Overseas Bank and HSBC have stepped in to plug the gap left by the big four banks.


Published: 23 December 2016