{"id":8582,"date":"2017-12-15T15:30:37","date_gmt":"2017-12-15T15:30:37","guid":{"rendered":"https:\/\/www.buyassociation.co.uk\/?p=8582"},"modified":"2017-12-15T15:30:37","modified_gmt":"2017-12-15T15:30:37","slug":"australian-housing-market-loses-chinese-investment","status":"publish","type":"post","link":"https:\/\/www.buyassociationgroup.com\/en-us\/news\/australian-housing-market-loses-chinese-investment\/","title":{"rendered":"Australian housing market loses Chinese investment"},"content":{"rendered":"

Large numbers of Chinese investors in Australian property have had to sell their assets due to restrictions on capital outflows.<\/strong><\/p>\n

Beijing<\/a> introduced the new capital controls in November, in a bid to keep money in the country. Any capital transfer of $5m or more by companies or investment funds is now closely scrutinised, with Chinese banks requiring customers to explain how they will use the funds.<\/p>\n

Now Australian housebuilders, developers and estate agents are offering large discounts to local buyers<\/a> in order to fill the gap created by \u2018international deposit defaults\u2019.<\/p>\n

Major impact<\/h4>\n

According to recent analysis of taxation records by Credit Suisse, Chinese buyers accounted for almost 15% of all new-build property in Melbourne and a quarter of all new homes in Sydney \u2013 meaning that the new restrictions are likely to have a major impact on the Australian housing market<\/a>.<\/p>\n

It is therefore perhaps no coincidence that Sydney has reported a 0.7% fall in home prices in November. The news comes as Australia\u2019s housing market is already beginning to slow down. The number of new-builds has fallen to 96,000 this year after having peaked at 116,000 in 2015.<\/p>\n

Property purchases by Chinese investors<\/a> have been blamed for pushing up prices in Australia, pricing many first-time buyers out of the market, so it is likely that the news will be well received by many who feared that some Australian cities were at their peak.<\/p>\n","protected":false},"excerpt":{"rendered":"

Large numbers of Chinese investors in Australian property have had to sell their assets due to restrictions on capital outflows. Beijing introduced the new capital controls in November, in a bid to keep money in the country. Any capital transfer of $5m or more by companies or investment funds is now closely scrutinised, with Chinese… Read more »<\/a><\/p>\n","protected":false},"author":1955,"featured_media":8585,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[141],"tags":[218,88,67,341],"class_list":["post-8582","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-overseas-property","tag-australia","tag-china","tag-foreign-investment","tag-newsletter"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/8582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/users\/1955"}],"replies":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/comments?post=8582"}],"version-history":[{"count":0,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/posts\/8582\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media\/8585"}],"wp:attachment":[{"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/media?parent=8582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/categories?post=8582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.buyassociationgroup.com\/en-us\/wp-json\/wp\/v2\/tags?post=8582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}