Australia still a property hot spot for Chinese buyers
Chinese investors are finding new ways to finance real estate purchases in Australia, with 40 per cent saying they would use vendor finance to buy property over the recent Golden Week holiday period, according to Jon Ellis of Investorist.
Demand for real estate is showing no signs of letting up. Despite a record-breaking number of properties going to auction last week, CoreLogic's weighted average national clearance rate was still exceptionally strong, with preliminary figures coming in at 78.6 per cent.
Boiling weather spilled over into a hot auction market on the weekend
Auction clearance rates were well ahead of results for the same time last year, according to CoreLogic, indicating that despite volumes almost doubling from the previous week, buyer demand is still red hot.