Chinese Investors Poised For Return
Pre-pandemic levels of interest expected by 2021.
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The second half of 2021 will see Chinese investors re-enter the Australian real estate market according to Asian proptech company Juwai IQI.
The property platform’s Asian Investment in Australia Q1 report indicated Australian real estate attracts more than six times the Chinese GDP-adjusted investment when compared to the United States.
Chinese investment enquiries into Australian real estate fell nearly 20% last year, due to the pandemic. However, Juwai is forecasting that number will turnaround in the second half of 2021.
“Chinese real estate enquiry levels in Australia should begin to recover in 2021 as the pandemic recedes and Asian economic wealth-creation machines continue to bounce back from their early 2020 doldrums,” a Juwai spokesman said.
Further, the Juwai spokesman said post-pandemic Australia would continue to appeal to Chinese migrants, second-home buyers, tourists and students with foreign buying made by permanent residents to reach pre-pandemic levels by the end of 2022.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
Scheduled auctions fall to winter levels as vendors hold back on going to market
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Grand final fever and the long weekend have dampened scheduled auction activity this weekend, CoreLogic reports.
The number of homes scheduled for auction this weekend is set to halve, with 1,324 properties listed, marking the quietest week since mid June. Melbourne will experience the quietest week since Easter, CoreLogic data shows, with 223 homes prepared to go under the hammer. In Sydney, 805 properties are expected to go to market, the lowest number in seven weeks.
With long weekends in Queensland and South Australia, numbers are also down in Brisbane (111) and Adelaide (86), less than half the properties available for auction the previous week. It’s a less dramatic drop in Canberra, where 83 homes are scheduled for auction, down -22.4 percent on the previous week.
Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’
Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual
