Busted: Six myths about Chinese property buyers
May 29, 2016
Worth noting that Fairfax have in recent weeks shed Michael West and Malcolm Maiden from their ranks, so you would assume that the talent they are keeping on is pretty good. This piece is worth considering in terms of where Fairfax sees itself, what type of ‘journalism’ it sees worthy of pushing, and of the ‘skill sets’ – which Michael West was told he didn’t have – required.
Chinese buyers have taken centre stage on Australia’s property scene following an exponential surge in real estate investment from offshore markets.
China is by far the biggest foreign buyer of residential and commercial property, proposing $24.3 billion of spend in 2014-15 – more than triple the United States and six times the outlay from Singapore, the Foreign Investment Review Board annual reports shows.
This is a giant leap, considering the value of China’s proposed investment was behind the United States and Singapore in 2011-12 – at just $4.2 billion. Some experts tip India will be the next major player in Australian real estate.
So far, a factual start. Fits with the headline, and runs over the sudden magnitude of the Chinese buyer in our midst. For anyone wondering why there is a sudden reference to India in the final sentence of the opening stanza, that is the dog whistle. It is there to appeal to that part of the readership which will assume that the China buyer issue cannot be changed and that their focus should be on dealing with the rising issue – ie ‘go and head off those Indian buyers’