The two most featured property headlines in the popular press over past weeks have been Chinese buyers and auction clearance rates. In today’s Sydney Morning Herald Paul Sheehan wrote a very good piece titled, “Investors become like bulls in a China shop”,
describing certain aspects of Chinese property investment into the Sydney market. What in fact is highlighted are what I call, “Local Property Bubbles”
across the Sydney basin.
Buyer Agents, Investors, First Home Buyers and Home Owners are out inspecting properties, its another frenetic Spring Saturday! The statistics for the Sydney property market remain remarkable. Auction clearance rates hover around a bullish 85.9%
, 1 in 6 properties bought off-the-plan are Chinese purchasers
and of the total stock sold, 12.5% is purchased by foreign investors.