Returning expats power economic recovery with property purchases

Close to half of the estimated one million Australians living overseas had come home since the pandemic began, and their buying was reshaping the housing market, realestate.com.au reported. PIPA chairman Peter Koulizos said many returnees held wealth in stronger currencies and did not regard Australian prices as steep, with members reporting Sydney results well above expectations. CoreLogic recorded a 3.7 per cent March lift across the combined capitals.