Wealthy migrants pricing locals out of Sydney property market By Nick Gardner From: The Sunday Telegraph January 17, 2010 12:00AM
Cashed up skilled migrants are driving up Australian property prices Skilled immigrants forcing up house prices Market driven by what highest bidder will pay Australian property 5.5 times household income AUSTRALIAN families are being priced out of the property market by record numbers of highly paid skilled workers arriving from overseas. Research by The Sunday Telegraph has revealed for the first time how skilled immigrants - predominantly from Britain, India and China - are forcing house prices to some of the highest levels in the world when compared with average incomes.
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