Housing markets in Sydney, Melbourne and Vancouver have all shown signs of slowing recently, and property markets in Australia and the rest of North America have cooled, the Australian newspaper reported.
In Sydney, home liquidation in (Upper Northshore), the upper north, is 73 percent, while (northern beaches) is 68 percent on the northern coast and even lower in the west and south-west, while local apartment sales have also fallen. Sydney's house prices have fallen seven weeks in a row, falling 0.1% last week, down 1.3% from a month ago, according to the latest figures.
Melbourne's housing market will cool down. Property prices in the city fell 0.5% last week, down 1.8% from a month ago. At the same time, there are signs of oversupply of small apartments in Melbourne's inner city, while in better areas such as Kiew (Kew), Cumberwell (Camberwell), Hawthorne (Hawthorn), Morvin (Malvern) and Brighton (Brighton), housing supply is relatively high.
Similar to Sydney and Melbourne, there is also a large influx of Chinese buyers into Vancouver, but the city's home price is higher than Sydney and Melbourne. In order to curb the city's overheating, the governments of Canada and Vancouver, like Australia, have begun to limit the purchase of overseas buyers. It is reported that in Vancouver last year,15% of the real estate transfer tax has been levied on foreign buyers. As a result, the rise in house prices in vancouver has slowed. More importantly, the city's property sales have also declined, as buyers are not able to use their shares. The data show that the city's four-month independent-house sales have fallen by 50%, and the apartment market is a little better, but it's also weak.
The number of Chinese buyers in all three places has declined as Sydney, Melbourne and Vancouver have stepped in to control home purchases from overseas buyers.
