School district housing is not the first choice for Chinese buyers. (pictures from the Web)
Chinese buyers have not pushed up house prices in Australia, according to a report by (Deakin University) of the University of Deacon, according to Realestate, an Australian real estate website. The report also found that Chinese buyers were more interested in single-family homes than apartments, which typically cost less than A $ eight hundred thousand and that school districts were not their first choice.
Zhong Mona (Mona Chung), a (Deakin Business School) researcher at Deacon Business School, surveyed 367 Chinese buyers who bought properties in Australia, with some unexpected results. Dr Chung said he was surprised by the main criteria for Chinese buyers to buy real estate, starting with public transport rather than proximity to the campus. "I am particularly surprised that they are not the first choice to buy a house near the school area, of course, location and price are other factors," she said. After all, we had expected a higher price from Chinese buyers (than Australians) to buy luxury properties. "
There are indeed many examples of Chinese hasty home purchases in Australia. But the survey found that more than half of Chinese buyers spent between A $ five hundred thousand and A $ eight hundred thousand, while only 24 percent spent A $1 million to A $2 million, Dr. Chung said. Dr Chung said the price was in line with Melbourne`s (then) housing price, suggesting that the Chinese did buy homes at market prices rather than inflating them.
In addition, the number of Chinese buyers of apartments is also relatively small. "another slightly surprising result is that there are so many Chinese buying apartments in the market, but the numbers don`t prove that," Dr. Chung said. Chinese buyers who come to Australia can be divided into two categories: those who want to live closer to their relatives and friends and those who want to be as close to the city as possible, according to (Ming Xu, a real estate agency.
Dr. Chung is reported to have surveyed Chinese buyers who bought homes in Australia between 2005 and 2015 through WeChat`s survey system, most of them between 26 and 35, mostly in areas popular with Chinese buyers. More than 60 percent of the buyers have emigrated to Australia, and 14 percent said they have immigration plans.
