According to REA Group first Chief Economist Nerida Conisbee, Australia tends to attract a lot of global capital for commercial property and, in many cases, would usually be competing with locations within Europe for this capital. Similarly, she believes that Australia’s residential property market is also likely to be positively impacted in this same wasy. She noted that London is a destination for many Asian property buyers who could potentially turn their attention to Australia if uncertainty remained around the UK. “Australia is going to be seen as increasingly safe, particularly compared to the volatile European environment,’’ she said. Ms Conisbee also said that while there may be some impact on the Australian economy as a result of the exit, it would be “nothing enormous”.
