Chinese buyers of interest in Australia`s lifestyle, according to the new report, are keen to buy a home in Australia. (Domain image)
China`s interest in restal, australia, is expected to be further diluted this year, as foreign buyers have difficulty getting loans and a sharp fall in housing prices, according to the real site`s domain. But if the plan to relax strict lending standards is expanded, international buyers are encouraged to return, and they may reburn interest in the Australian market.
At present,46% of the medias from China`s sales of international real estate are being sold, according to a survey by the Real estate website. However, it is expected that the next year will sell only 26.4% of Australia`s return. Jon Ellis, the chief executive of the investor, said in an interview with the Domain website that the ratio was 82% less than the previous year.
China`s buyer`s market may have only one-third of the past, or even less than a third. Still, the market is still in the market, "he said." There is still a keen interest in the way in which an Australian lifestyle is of interest, or a buyer who intends to allow children to receive quality education, is still keen to buy a house.
However, investors looking for hedge or value-added investors are in the face of falling home prices and state, federal government`s international buyer tax. At the same time, a number of Australian banks have tightened lending to non-Australian residents and become another big problem for international buyers.
According to the investor`s survey,76% of the respondents said they needed a loan for half-buyers. Of those who need a loan, 40.3% say they are well-funded, but because of foreign exchange control, it is difficult to transfer money to the country. 42.1% of the people have enough money to buy a house, but by means of a loan of money. "At present, there are a number of financial institutions other than banks in the market to provide loans to non-residents." `s said.
Ellis wants Australian banks to consider easing loan restrictions on international buyers. There are growing signs that strict lending standards imposed in recent years are being relaxed. This week, (APRA), the banking regulator, proposed lifting the proposed 7 per cent mortgage buffer. Last year, the prudential Supervisory Authority also announced the lifting of interest-only loans growth restrictions.
Ellis expects domestic investment to remain unchanged for the next year, but if banks start lending, international buyers could return to growth.
The report also found Melbourne still the most popular Australian city for Chinese buyers. In view of the high house price in sydney, the demand for restal in sydney is in the middle of the "quick". The affordable Brisbane market remains attractive.
In addition, buyers are back interested in local real estate as commentators predict a return to growth in the Perth market. But through strong marketing, Canberra and Adelaide projects have also attracted Chinese buyers.
