Foreign property buyers shift into McMansions

Tuesday, 22 November 2016

Good news! From the AFR:

Melbourne developers are selling too many housing lots to the Chinese and are running into funding trouble, BRW richlister Nigel Satterley warns.

Mr Satterley said it was his understanding that between 4000 and 5000 lots – about 20 per cent of the market – was being sold into the Chinese market.

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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.