MW wrote:For the first time I can remember, a house in my street sold for over a million about a month ago to a Chinese couple. A couple of western families tried but just got out muscled by this Chinese couple.
For that price, and type of house (family home), I expected them to move in. Nope, yesterday they had an open inspection to rent it.
12 months ago, the house 5 doors down from this one sold for near 850k, and the exact same thing happened in the same manner.
Chalmers has come out with increased taxes on foreign investment in property, but then said it only makes up 1% of all property sales. Seems like a low number...
A place in Alberton went for $1.011m a week or two ago. Big corner block....but, only 2 bedrooms and needs a new bathroom.
Dad brought it for one of his kids.
