Loss of Chinese buyers: final straw for Australia’s property market?

Properties on the Sydney coastline. Photo: ReutersProperties on the Sydney coastline. Photo: Reuters

Properties on the Sydney coastline. Photo: Reuters

Australia’s property market, like many others around the world, has been hit by the coronavirus-induced economic downturn. But for its two largest cities, Sydney and Melbourne, Covid-19 is only part of the problem.

In these cities, a mix of stresses that include falling immigration, disparities in supply and demand and a decline in foreign investment due in part to tensions between Beijing and Canberra, are fuelling fears that the worst is yet to come.

Read more: https://www.scmp.com/week-asia/economics/article/3093699/loss-chinese-buyers-final-straw-australias-property-market