Wealthy migrants heading our way and no houses for sale in Helensburgh

If you could live anywhere in the world, where would it be? A new report from Nerida Conisbee, Ray White’s chief economist, claims that, for the world’s wealthy, Australia is a top pick.

This year, we are set to attract more wealthy migrants than anywhere else in the world. A total of 122,000 millionaires are expected to migrate in 2023 with most of them coming from China, India and the UK.

Whereas some migrants are escaping conflict or economic ruin, the majority are looking for good schools, financial safety and lifestyle. And where better to migrate than anywhere here along the Northern Illawarra coast and escarpment!

The problem is there is significantly less stock for these buyers to choose from. Stock numbers are around 50% down on the same time last year.

In particular, Helensburgh has no houses for sale at all! This is a very rare occurrence and should keep pressure on prices despite the rising interest rates.

Some good sales in the past week demonstrate this:

• 12 Station St, Stanwell Park $1,825,000 sold by Ray White Helensburgh
• 31 The Waves, Thirroul, $1,930,000 by One Agency Thirroul
• 66 Morrison Ave, Wombarra, $1,300,000, sold by Molenaar & McNeice

About the author

Ian Pepper has had a long and distinguished career as a finance and real estate professional. Originally trained as a Chartered Accountant in 1995, Ian worked in Sydney and London. He has an MBA from Macquarie Graduate School of Management and now sells real estate with Ray White Helensburgh. Ian also volunteers with local community groups including school P&Cs, sporting clubs and business chambers.

Ian advertises in the Illawarra Flame, follow him on Facebook and Instagram