Oz investors look abroad for better deals

Overseas investors based in Australia are being forced to look abroad for better deals, according to Cushman & Wakefield.

The agency says that because the country's housing market has seen opportunities drop and house-building decline, buyers are now heading overseas, despite ongoing global financial concerns.

"'There is a big demand for core real estate around the world and as more international investors buy into Australia, then the locals will have to go back overseas,'' CEO Glenn Rufrano told OPP , predicting that unlike 2011, where activity slowed in the second half of the year, 2012 will see improvements as the next 12 months progress.

Property in the USA are highlighted by Cushman and Wakefield as an attractive option, with areas such as New York experiencing a rebound in prices. With land sales falling to all-time lows Down Under, it may be no surprise that investors looking up elsewhere.