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
Tue, Feb 07, 2017 - 5:50 AM
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.
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...