A new study found that Chinese buyers had no impact on property values outside areas with large Chinese communities. Read more at straitstimes.com.
A survey in July, for instance, found that 73 per cent of Australians believed that “foreign buyers from China drive up Australian housing prices”, with only 8 per cent believing that Chinese buyers do not add to prices and 19 per cent expressing a neutral view.
A new study published in June in the journal Housing Studies examined how Beijing’s 2017 crackdown on money leaving China had affected property prices in each of Sydney’s 678 suburbs.a fall in overall Chinese investment in Australia, “Our findings… suggest ongoing concerns about Chinese capital and Chinese investors driving up Australian home prices and exacerbating affordability problems are overstated,” he wrote last Monday in The Conversation, a website that publishes research and analyses by academics.
In Melbourne, the average house price rose from A$117,000 in 1993 to A$925,000 today. Apartment prices increased from A$116,000 to A$604,000.Since 2011, China has been one of the largest sources of migrants to Australia. As at June 2021, Australia had 596,000 China-born residents, an increase of 208,000 since 2011.This Chinese influx has often been blamed for the property boom even though, according to analysts, it has played a minor – if any – role in the price surges.
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