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As MB has been reporting for some time, Chinese buyers have come under a number of pressures that are likely to cause slowing in the property market. Now Domainfax confirms it:
Chinese buyers have disappeared from the Sydney trophy home market and Melbourne could be to blame.
As Sydney’s prestige agents scratch their heads at a baffling lack of inquiry among offshore buyers this Spring, data shows China’s cashed-up house hunters are increasingly showing a predilection for a Toorak mansion over a Point Piper waterfront.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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