But it is not enough for the cohesion of the Union that the Single Market and the single currency constitute a positive-sum game, in the sense that their existence raises aggregate welfare.
Foreign demand for housing has supported the local construction industry, while foreign-based developers provide access to alternative sources of financing and add a degree of competition to the sector. Some recent housing purchases have also been associated with the increase in the number of families, particularly from Asia, that want to educate their children in Australia.