You are here

Experts warn Aussie home prices may crumble

Frenzied bidding of past years fizzles out as number of buyers from China drops amid Beijing's curbs on overseas property purchases, and sellers drift away

BT_20170207_KVOZ7_2728263.jpg
Waterfront properties in Sydney. A sharp correction in prices would heap stress on those who paid a lot to enter the big east coast property markets, while damaging the country's financial institutions as home loans account for up to 60 per cent of the major banks' total loan books.

Sydney

AFTER a long pause, the auctioneer commissioned to sell a northern Sydney beach-side apartment for in excess of A$800,000 (S$864,000) put his gavel away, unable to entice a single bid.

Across town, in the city's trendy inner western suburbs, the owner of a warehouse

sentifi.com

Market voices on:

Powered by GET.comGetCom