An insider’s view on Chinese buyers

In 2013 my wife and I were looking to buy our first home – something bigger in a nice suburb with a good school nearby. During the inspection for a three-bedroom unit in Killara I said to my wife “Wow, look at this, there’s no other Chinese buyers here. I think we can get this one!” And indeed, we did.

Unlike those cash-loaded, overseas Chinese buyers you see at property auctions, my wife and I are new migrants living on monthly Australian salaries. In addition to the normal frustration of being defeated at auctions by the super-rich Chinese, we also suffer from the common criticism today that “the Chinese” have and are pushing up property prices in Australia. I can’t blame people who put it that way because, the truth is, Chinese home buyers have lots to do with the property market in Australia…

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