Sydney to Boom Further as Canada blocks Chinese demand

Discussion in 'Property Market Economics' started by standtall, 22nd Aug, 2016.

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  1. standtall

    standtall Well-Known Member

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  2. larrylarry

    larrylarry Well-Known Member

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    detached housing is of course pricier in Singapore, scarcity of land. you can't really compare that market with Sydney, maybe Hong Kong where apartment living is the norm.
     
  3. samiam

    samiam Well-Known Member

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    Sydney is not same story as Vancouver. Vancouver/West coast is 'most' liveable because it is. Not like minus 40 as rest of the country. If you ask people from Alberta or Saskattchewan. And it's a second home for many people for winter break.
     
  4. Lacrim

    Lacrim Well-Known Member

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  5. barnes

    barnes Well-Known Member

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    Your graph is missing Montreal
    .
    I don't think so. Vancouver is the closest to China and the only one on West coast. I know a lot of people who immigrated to Canada, no one resided in Vancouver.
    What happened in Vancouver is a Chinese factor. This factor will dry out and so are prices. The rest of Canada will do a lot better than the West coast in the nearby future.
     
  6. Ald

    Ald Well-Known Member

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  7. Ald

    Ald Well-Known Member

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    is there anything so special about Australia?

    Just think Australians made housing into a sport

    Does the graph show the best performing nation in the world or the worst.
     
  8. big max

    big max Well-Known Member

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    Actually if you are referring to Australia then there is far better value for Chinese buyers than Sydney. Like Brisbane and Gold Coast for example. But yes money is clearly moving out of the Vancouver market and going elsewhere.
     
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  9. big max

    big max Well-Known Member

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    Many things special.

    Safe. Clean. Green. High quality living. Food. Water. Education. Wildlife. Oceans. And whilst close to Asia still far enough away from possible **** that may go down in the future.
     
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  10. hash_investor

    hash_investor Well-Known Member

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    Graphs always do show the best. If you still want to ignore the graph and believe whatever your bias is then by go ahead. Your choice!
     
  11. Graeme

    Graeme Well-Known Member

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    I'm seeing the $2.6 million median price quoted in a few places for Vancouver, but I haven't come across the source for it. Can someone supply it?

    The biggest numbers have been the $1.8 million benchmark for a detached house, and West Vancouver was up to $3.4 million. (As far as I can tell, the benchmark is an approximation of what a typical property of a particular type, in an average street would cost.)

    @barnes is right about Vancouver's population, it's around 600,000. The problem (at least according to a programme I saw a few weeks back) was that 200,000 rich Chinese decided to emigrate. That'll cause a few distortions to the market.

    @standtall Dublin dropped about 50% after the GFC. In general, bubbles retrace to the point where they started from. Vancouver shot up from about $400K in 2002. Adjusting for inflation, the bottom might be $600K, or even lower.
     
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  12. Graeme

    Graeme Well-Known Member

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  13. jins13

    jins13 Well-Known Member

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    Why can't we allow foreign investors to spend money on the Northern Terrirtory or areas that require infrasture?
     
  14. hammer

    hammer Well-Known Member

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    We do! Chinese have been buying up heaps of cattle stations and *cough* a port . Heaps of investment, but its remote, expensive, risky and only the sort of thing a big company can tackle.

    My guess is mum and dad investors prefer a place like Sydney or Vancouver for well...the same reasons most Aussies and Canadians do.
     
  15. melbournian

    melbournian Well-Known Member

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    They already are. Chinese majority owned company is already building gas pipelines btw NT and Queensland
     
  16. dabbler

    dabbler Well-Known Member

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    We
    We do, they hold the port up there, which will be handy if we go to war.
     
  17. wategos

    wategos Well-Known Member

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    Australia and Canada have been embracing dirty Chinese money while the rest of the world has been going in the other direction, rejecting money laundering. Eventually this will bite Australia in the ass same as other money laundering centres have been recently.
     
  18. dabbler

    dabbler Well-Known Member

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    Don't worry, they will come to collect at some point, then you can let the NG and other problem systems go, they will replace with something far more in line with what you may like.

    I have to wonder why some hang out here, how much can a Koala Bear ?

    PS in case you can only get the negative gearing channel where you are, no global news , the world is full of funny money, we are actually doing better, but have to play by the same basic rules, until they have options on other planets or the moon, which will probably still be tied to someone else down here anyway :)
     
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  19. standtall

    standtall Well-Known Member

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    So Sydney on track to chase Vancouver!!

    BTW, Vancouver slumped 17% in last 3 months but its mainly units who went down in price.

    Vancouver is already happening in many Sydney suburbs.

    Example: St Ives median price was $1.1 million in 2013. You won't be able to find a decent house under $2 million today.


    Has Vancouver found the solution to a super-heated housing market?
     
  20. JDP1

    JDP1 Well-Known Member

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    No doubt that most of the money from south east Asia is of dubious origins
    If it weren't, unlikely most of those from se Asia could afford Australian RE from their salaries (after tax) alone.
    Anyway..don't wish to get into that debate..I'll just say that if we did not have se Asian money of whatever nature, we would be in more significant strife. You can tear away 1/3 of Sydney and Melbourne skylines without their money.
    Will it bite in the future? Who knows to what extent.