All the Gear and No Idea!

IMG_1999A common misconception in the Australian Property market is that Chinese property buyers have “all the gear and no idea”! As a general rule this couldn’t be further from the truth. Some popular urban myths about Chinese buyers are the following:

Chinese Buyers pay well above market: This was certainly the case some years ago when naive Chinese buyers were misled by Chinese intermediaries or agents who took high commissions from marked up sale prices. Continue reading

Sydney Market Update

IMG_0084The RP Data release this week shows Sydney houses prices dropped 2% in May. Not unexpected considering we have had 12 months of gains and the negative headwinds of press surrounding the debate over winners and losers in the Federal Budget. The Reserve Bank Governor Glen Stevens noted,“Dwelling prices have increased significantly over the past year, though there have been some signs of a moderation in the pace of increase recently.” Continue reading