Property

Americans plan for Australia as Trump becomes President



Australia could be welcoming some new visitors following the US federal election results which saw Donald Trump win the presidency.

Results from the past seven days on Google Trends show that the keywords “move to Australia” have skyrocketed significantly in the lead up to the polls closing in the US.

Americans and the rest of the world were watching with bated breath as votes steadily grew in Trump’s favour.
The controversial Republican candidate, whose campaign saw even lifelong Republicans dis-endorse him, claimed victory about 6.30pm AEST after Wisconsin fell to him.

 

>> Read more about Donald Trump: Inside Trump's Modest Childhood Home

 

The static snapshot below was taken just before 4pm AEST after Trump won the key swing state of Florida.


Google Trends search from 18:00 on November 2 to 16:00 on November 8.

Australia is not the only place disillusioned Americans are looking to – the Canadian immigration site crashed earlier yesterday (November 9) due to the sheer number of people looking to move to the neighbouring country.

Canada’s website would normally offer application forms for people looking to live in or become a citizen of the country. But all those people can currently see is a loading page with no further access to the website.

 

>> Search for Properties in Canada

 

What does a Trump victory mean for Australia?

Aside from the potential for an influx of immigration applications – how else are Australians likely to be affected by the Trump victory?

REA Group Chief Economist Nerida Conisbee says the results of the Presidential Election will hit the financial market first.

“Financial markets are highly volatile as people can sell and buy very quickly,” Conisbee says.

“More people will look to put their money in readily available ‘safe’ investments.”

 

"People in America are likely to look to safe haven markets –
Australia will be a beneficiary of this."

 

Conisbee says in a couple of weeks, property values in the US are likely to fall in the same way they did in England following Brexit – which could mean Americans looking to Australia to invest in property.

“In uncertain markets, people don’t like to buy,” she says.

“People in the US are likely to look to look to safe haven markets – Australia will be a beneficiary of this as it is considered to be one of the safest markets in the world.”

 

>> Search for Properties in Australia


A Trump supporter cries with joy as Florida is won by Trump.

The longer term impact in the US could be worse – possibly recession.

The US dollar has already plunged and stock markets were quickly thrown into disarray as Trump continued to gain momentum on the path to becoming America’s 45th President.

“We will know by early next year (if there will be a recession) and it will depend on how unstable Trump is as President. From Australia, he looks incredibly unstable. The UK has narrowly escaped recession following Brexit,” Conisbee says.

For Australia, this will only have a negative effect. “Lower growth will impact our economy,” she says.

“Is he a global political risk? He is backing another very unstable leader, Putin. There is a lot of political instability around the world already and this will add to it.”

Source: Realestate.com.au
Author: Alice Bradley