Chinese property searches for Sydney property down 30 percent on realestate.com.au

Chinese property searches for Sydney property down 30 percent on realestate.com.au
Chinese property searches for Sydney property down 30 percent on realestate.com.au

Figures compiled by realestate.com.au show that searches for Australian property by Chinese-based property seekers fell 15 per cent nationally last year.

Sydney searches were down more than 30 per cent and Melbourne down over 10 per cent.

"The biggest drops were in the last quarter of 2017," REA Group chief economist Nerida Conisbee told Fairfax Media.

"I think a lot has to do with taxes introduced last year, sentiment towards Australian property in general and perhaps a slowdown in the construction cycle meaning less to buy.

"Chinese capital controls are perhaps also making an impact – fewer Chinese developers may be impacting buyers." 

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