News

Big spike in Chinese residential property investment

13 April 2016

Chinese investment in Australian property doubled last financial year.

Investment approvals from China for Australian real estate last year hit their highest level ever recorded, sitting at $24 billion.

Chinese investors made up nearly half of the total value of real estate approvals by foreign countries in the financial year.

American investors were the second highest foreign investors in Australian property but they were still more than tripled by the Chinese activity, while Australia has now become the second-most popular destination for Chinese investors behind the USA.

The figures from the Foreign Investment Review Board include both residential and commercial property and reveal the spike in Chinese investment was especially driven by a large increase in residential approvals.

Residential foreign approvals as a whole jumped by 75 per cent in the 2014-15 financial year to hit $61 billion.

Victoria was actually the most attractive State for foreign real estate investment with 16,775 approvals for the year with New South Wales coming in second with 12,349.

Latest

A new set of responsible lending guidelines have been released with the goal of clarifying the obligations of lenders.

Read more

The renewed surge in house prices of late is welcome news for some but could see a return to some more macroprudential tightening.

Read more

The late spring selling surge continued in Melbourne and around Australia on the weekend with more than 3000 homes going under the hammer.

Read more

The Reserve Bank governor has essentially ruled out the possibility of Australia using negative interest rates or other unconventional policies to stimulate the economy.

Read more