Australian prudential regulators have made it extremely difficult for non-citizen to borrow in Australia.
Even Australian expat citizens are finding it difficult to obtain finance.
By comparison to most of the world, Australia has a highly regulated banking sector and as a result many people arriving from overseas find the home loan application process tedious and daunting.
Note to overseas investors:
Investment in the Australian property market generally requires pre-approval from the Foreign Investment Review Board. It is the responsibility of the purchaser to inquire if any approval is required.