It's interesting that the news of Vancouver passing a 15% transaction tax earlier this month didn't get much attention in our media. But this tax is meant for foreign buyers only and they went ahead with this tax after more than 90% of all detached houses in Vancouver crossed the $1 million price mark. In comparison, Sydney will have less than half of all detached houses over a million mark (hint - Sydney median price is where half of the houses are priced above or below that price). Last time Canada abolished investor visa (pay for passport scheme) in 2014, it helped us in strengthening Chinese demand for our properties and I have a feeling that a similar thing is about to happen again. Remember, for Sydney to have similar prices to Vancouver, prices in suburbs like Mount Druitt will have to hit a million dollar entry price. So for now, Sydney has once again become the best value destination for Chinese buyers.