Wednesday, April 22 2015
A major driver of Sydney's phenominal property price growth has been the Chinese investor market. While many local buyers have found themselves priced out of the market cashed up Chinese buyers have been driving the market. But with median prices nearing $900,000 and yields falling below 3% the value proposition is becoming questionable.
This has resulted in a shift in focus with Brisbane emerging as a desirebale market for Chinese buyers. Prices are affordable with a median still below $500,000, major infrastructure projects are underway across the city. Brisbane’s accessibility to quality universities, major employment hubs and its clean lifestyle with an abundance of open spaces were major drivers for the Chinese to purchase in Brisbane.
A number of businesses that specialiase in assisting Chinese investors have advised a significant increase in activity. One advising 90 properties were sold in the last week.
The Brisbane market has been steadily trending upwards for the last year and half but this significant "buyer block" has the potential to change the game and create additional upward pressure on prices.