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By Daniel Keane 10/02/2022

International travel, both to and from Australia, is revving back into action, but questions remain about how that will impact the nation’s booming real estate market.

he relaxation of international border restrictions in less than a fortnight will bring long-awaited relief to sectors that rely on the tourist dollar.

Announced by the Prime Minister on Monday, the decision will permit fully-vaccinated visa holders to travel into Australia without a travel exemption.

It comes after other border restrictions were eased in November, enabling citizens and permanent residents to leave Australia without an exemption, and is among the biggest signs yet of that hitherto elusive prospect: a resumption of normality.

But greater population movement is also tipped to bring broader economic impacts, including potential flow-on effects in the housing and rental markets, at a time when the COVID-19 pandemic has driven record price growth.

“Many economists, when the pandemic hit, predicted 20 per cent house value falls, but it’s gone the other way,” Real Estate Institute of Australia president Hayden Groves said.

 

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