Chinese apartment buyers cooling on Sydney and Melbourne

Chinese apartment buyers cooling on Sydney and Melbourne, by Robert Gottliebsen.

The trade tussle between China and Australia has taken a dramatic new turn. Chinese buyers of apartments in Sydney and to some extent in Melbourne have suddenly reduced their buying. …

No one can be sure but it would seem that this is a third warning shot for Australia following the hold up of meat from four abattoirs and the 80 per cent tariff on Australian barley. …

Many Australians have been unhappy about the upward pressure the Chinese buying has exerted on dwelling prices. The withdrawal of Chinese buying plus the multitude of other forces is causing banks to forecast a minimum of a 10 per cent dwelling price fall. …

China looks to Australia and New Zealand as important food sources and, because of our excellent handling of COVID-19, we have become unique in the world

If they are allowed, Chinese students and longer term Chinese tourists will want to come to Australia and they are clearly still interested, on a personal basis, in buying property in Australia.