Chatswood knocks Glen Waverley off top spot in popularity with Chinese property buyers

Chatswood knocks Glen Waverley off top spot in popularity with Chinese property buyers
Chatswood knocks Glen Waverley off top spot in popularity with Chinese property buyers

Chatswood in Sydney tops the list of suburbs popular with Chinese buyers, followed by Point Cook in outer Melbourne after a survey of searches on the realesate.com.au website.

Rowville on Melbourne's outskirts cames in third place with the recent favourite Glen Waverley coming in sixth place.

The realestate.com.au website calculated the number of searches to each suburb on realestate.com.au/buy and their Chinese-language site myfun.com from outside Australia from 1 July 2016 – 31 December 2016, based on a user’s IP address.

 

Suburb

Number of searches

Median Price

1

Chatswood (NSW)

More than 1880

$2,300,000

2

Point Cook (VIC)

More than 1790

$538,000

3

Rowville (VIC)

More than 1670

$760,000

4

Epping (NSW)

More than 1410

$1,724,000

5

Carlingford (NSW)

More than 1400

$1,332,500

6

Glen Waverley (VIC)

More than 1400

$1,202,000

7

Doncaster (VIC)

More than 1250

$1,202,500

8

Mount Waverley (VIC)

More than 1040

$1,240,000

9

Balwyn (VIC)

More than 970

$2,065,000

10

Ringwood (VIC)

More than 960

$807,500

The data shows that Chinese buyers are interested in suburbs in Sydney and Melbourne that range in price from $538,000 to $2.3 million.

The REA Group chief economist Nerida Conisbee noted Point Cook, an outer western suburb of Melbourne, was the most affordable on the list.

"This reflects the growing diversity in housing stock being demanded by Chinese buyers. 

“Whereas previously the apartment market in Melbourne and Sydney was most preferred, they are now branching into more affordable locations and into house and land,” she noted.

Chatswood has knocked historical favourite Glen Waverley off the top of the popularity list for Chinese property seekers

In 2015, suburbs like Rose Bay and Darlinghurst topped the list of sought-after areas for Chinese buyers, followed by Merrylands and West Ryde.

Rowville was number five in 2015 is now at number three and Ringwood makes its debut this year at number 10.

A four bedroom house at 9 Baldry Street, Chatswood (above) has been listed for sale.

Similarly a four bedroom house at 34 Dalrympie Avenue, Chatswood (below) has been listed for sale for $1,850,000.

Chatswood knocks Glen Waverley off top spot in popularity with Chinese property buyers

A three bedroom house at 10 Bertram Street, Chatswood (below) was sold for $2,720,000.

Chatswood knocks Glen Waverley off top spot in popularity with Chinese property buyers

Similarly a three bedroom house at 7 Spencer Place, Chatswood (below) was sold for $2,450,000.

Chatswood knocks Glen Waverley off top spot in popularity with Chinese property buyers

Jonathan Chancellor

Jonathan Chancellor

Jonathan Chancellor is one of our authors. Jonathan has been writing about property since the early 1980s and is editor-at-large of Property Observer.

Tags: 
China Chatswood

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