Quote:
Originally Posted by AndrewJ
Whilst not technically a negative gearing effect, in my area, there are now local property brochures in chinese only, and IIRC, there was one auction reported to the govt recently, as much of the auction was actually carried out in chinese.
As i mentioned in an earlier thread, the reasons certainly vary, but from what we are hearing, many of these buyers dont really care what they pay, and dont plan to use the property, they are merely buying an address that gets their kids access to a school system.
Locals cant compete with cashed up people prepared to do that.
Andrew
|
I had an agent tell me exactly that recently in Canberra