Home News Market Watch: Where in Australia are Chinese buyers looking?

Market Watch: Where in Australia are Chinese buyers looking?

Font size :
Where in Australia are Chinese buyers looking?
Chinese investors in real estate are most interested in property in Victoria. Analysis of searches from Chinese-focused real estate website myfun.com has found that it was the most clicked state last year with Melbourne’s Glen Waverley suburb being the most searched neighbourhood. Mount Waverley, Doncaster and Balwyn take the next three places in the league with Southport, Queensland being the only one of the top 5 not to be in Victoria. Box Hill, VIC; Carindale, QLD; Toowong, QLD; South Yarra, VIC; and Chatswood, NSW complete the top 10. Damian Moore from Ray White told news.com.au that good schools and feng shui play a part in the choices of Chinese buyers.
Source: news.com.au
 
Planning minister’s warning on affordability
NSW’s Minister for Planning is warning that unless something is done now, the next generations will be unable to afford more than a shoebox in Sydney. Speaking at an Urban Taskforce Industry lunch Pru Goward said her own grandchildren were among those that could be affected: "I don't want to have to see them leave Sydney altogether because they've been priced out of the market." She said that infrastructure and housing were the big focuses for NSW but warned that a NIMBY attitude would need to change to allow infill housing solutions.
Source: The Domain Group
 
Jobs and wages weighing down economic sentiment
Australian households may save money on their home loans when the lower rates kick in but confidence in the economy has slipped lower since the RBA cut the interest rate. The ANZ-Roy Morgan Australian Consumer Confidence Index fell by 1.7 per cent last week, hitting its lowest mark since August last year. With assets increasing in value, petrol prices lower and mortgage rates falling there should be optimism but concerns over job security and the lack of growth in wages is weighing down sentiment. Confidence in the economic outlook is at its lowest since last June. Warren Hogan, ANZ chief economist commented: “The fragility of the consumer over the last year or so continues to surprise us. While we expect some bounce in coming months from lower interest rates, the question we increasingly debate is whether there can be a strong and sustained bounce in consumer confidence without an improvement in the labour market and a lift in wages growth.”
Source: ANZ-Roy Morgan Australian Consumer Confidence Index
 
Real estate career beats the catwalk
Would you rather have been an author, librarian or academic? A new survey has found that they are the three most desirable jobs with real estate agent coming in at number 23; women are 4 per cent more likely to choose it as a career than men. Don’t be too downbeat though as more people in the YouGov poll said they would like to be a realtor than a model.
Source: YouGov
 
 

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

Mortgage applications drop in second quarter Mortgage applications drop in second quarter

This marks the “beginning” of a downward trend, says Equifax executive Read more

To break monopoly, many smaller lenders could become banks To break monopoly, many smaller lenders could become banks The proposed change could break the Big Four’s monopoly over the mortgage market and help families get cheaper home loan rates ... Read more

Borrowing against the home: A strategy to pay for aged care Borrowing against the home: A strategy to pay for aged care Such debts can generally be divided into long-term and short-term loans ... Read more

NAB slashes growth forecasts for houses, units NAB slashes growth forecasts for houses, units Numerous factors, including tighter credit rules and the growing supply of new stock, have reined in Australia’s seemingly unstoppable housing market boom ... Read more

More mortgage news and articles

Sponsored Links

Sunday, Jul 23, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords