Chinese demand for Australian residential property has eased because of tighter capital controls imposed by Beijing and tougher restrictions on mortgage lending by local banks, according to a senior official at Australia’s central bank.
The Reserve Bank of Australia’s head of financial stability, Jonathan Kearns, said on Monday that foreign buyers accounted for around 10 to 15 per cent of new construction, or about 5 per cent of total housing sales and around one-quarter of sales…
Source : South China Morning Post
Read more…Chinese buyers cooling on Australian homes as financing gets harder to find
