With a weak British pound, the Aussie dollar is buying more. Combine that with a bottomed-out property market and there are some great investment opportunities to be had.
Some prime UK developers are now looking overseas for investors to take advantage of once-in-a-decade opportunities.
"There are some great opportunities out there for people with funds at the moment," said Julia Bowerman, of Hunters Estate Agents. "Leading indicators are showing that the market is on the verge of recovery, but local investors are still scared. I'm seeing a lot of interest from overseas investors who are getting great returns from bargain-priced properties."
She said all the conditions are right for dollar and Euro earners to make the most of the economic climate in the UK right now.
One developer has actively identified the Australian and Expat British investor as the perfect buyer for their latest development - the Flaxby is planned to be Yorkshire's only five star destination hotel and golf complex, and a unique vehicle for investment which guarantees a return of 39% in the first three years.