Foreclosures in Australia

[Nicole Liu]

Hi guys, I'm primarily interested in investing in property in Australia! I hear great success stories all the time from finding deals on foreclosed houses! I was wondering if these sort of opportunities existed in Australia too? If so, what's the best way to find them? Thanks ! Nicole

[Federico Gutierrez]

Foreclosures in Australia I don't think are able. The banks don't just allow home owners to walk away from their properties like they do here in USA. Back in the 80's when the Labour party had run the country poorly and interest rates were in double digits, people still did not default on their mortgage. 

Plus with property prices are so high and appreciating every year that it's very rare that sellers sell for a lose. 

What you might find is homes that are in need of repair/TLC and won't sell for market value but not a foreclosure