The Australian dollar is currently valued at .67 US dollars. If you keep an eye on international economics, you’ll know that this isn’t very strong at all. In fact, we’re looking at a weak Australian dollar at the moment.
Here’s the thing though – that’s not necessarily a bad thing (particularly if you’re selling your home and are using an agent with a huge overseas network)! Today we’re going to look at how a weak dollar can attract an affluent overseas buyer to your home!
More Bang for Their Buck
Why might a weak Australian dollar appeal to overseas investors? Well, they get more bang for their buck in terms of investment. Let’s look at this time last year – the Australian dollar was trading at .75 US dollars in April 2022. It’s declined a good 10% since then to its current value, which is quite a big shift in a year.
Cashed up overseas investors with cash reserves in US dollars have just seen the value of their reserves increase by 10% if they were to invest in Australia. Let’s say they have one million US dollars set aside to purchase real estate. At today’s rate, they have AUD$1,488,000 to spend in Australia, which is a windfall of nearly AUD$150,000 compared to if they had been looking to buy here last year!
That kind of extra value really swings the intentions of investors, and rightly so. If you suddenly have $150,000 more spending power in a country, of course you’re going to be interested in purchasing real estate there! The key for sellers is making their listing available to those international buyers… that’s where the choice of which real estate agent they use becomes really important.
Who Else Benefits from a Weak Dollar?
Businesses within Australia who benefit from a weaker dollar are those involved with manufacturing and exporting. They can price their goods more competitively than others available on the international market, and they receive more Australian dollars when they convert their revenue from US dollars.
Tourism is another industry that does well when our dollar is down. Visitors looking to come from overseas and visit Australia suddenly have 10% more spending money to enjoy on their holiday. It’s similar with international students – university fees and living allowances are more affordable for the parents and families of students coming to Australia. Universities and tertiary education facilities get a boost in interest and numbers as a result.
Choosing the Right Real Estate Agent
If you’re listing your house in a time when our dollar isn’t faring as well on the international market, you want your property to reach the right buyers. First and foremost, that means international buyers with expendable income need to know it’s for sale. It also has to reach the people within Australia that are doing well and profiting in the current climate.
To do this, you need the right real estate agent. When we say the right agent, we’re saying the one with a vast network, both locally and overseas, that they can leverage to exponentially spread the reach of your marketing. You want it in front of affluent overseas buyers, just like you want it in front of business people who are benefiting from the current value of the dollar.
Sell With The Henry Wong Team®
Henry has been selling real estate on the southside of Brisbane for many years now. During that time he’s established a strategy that works no matter what suburb your property is in. It’s a strategy that relies on the vast network he has grown and nurtured over the years, a network that spreads across Queensland, across Australia and internationally too.
Henry has very close ties with the Asian community, and through that and his endless networking efforts he has grown his contacts of affluent Asian buyers looking to purchase property in Australia. He communicates with them regularly, they trust him and they look to him for advice about Australian real estate. So when he lists a property, they notice!
Henry’s network also includes local Australians who own business ventures overseas, whether it be in America, Asia or Europe. Their businesses earn foreign currency overseas, so when we have a weaker dollar these Australians look to reinvest that money back into Australia, because they’ll be getting more bang for their buck. When you’re listing a property, these are the kind of buyers you want access to. That’s what The Henry Wong Team® provides.
This is a very opportune time to be marketing your home to wealthy buyers overseas. If you’re thinking of selling, get in touch with Henry and his team. They’d love to make history and help you move onto your next chapter in life successfully!
