Chinese Buying Spree in Australia falls to $2.5 Billion …

Chinese Buying Spree in Australia falls to $2.5 Billion …

Plummeting 47% between 2018 and 2019

In 2016 Chinese spent $15.8Bn in Australia

Prof. Peter Drysdale who heads up a Chinese investment database at the ANU has found that the Chinese have spent 47% less in Australia; the bulk of their $50 Bn investment was before 2017

Read more!

https://www.theguardian.com/australia-news/2020/sep/14/chinese-investment-in-australia-plummets-47-in-a-year-as-diplomatic-tensions-rise

2013 …

From 2012 to 2013 inclusive the Chinese buying spree grew by almost 60% targeting Sydney and inner-city Melbourne

Chinese buyers and Chinese-backed developers focused on Sydney with more than $600M development sites for 5000 apartments to be marketed in China

With 10 Million Millionaires in China … was this why we have a social and economic imbalance in Australia … prior to the Pandemic?

With precincts 100% owned by Chinese and/or rented by Chinese, built by Chinese developers thus not available to the Australian market …

IT is alleged that Australia needs ‘foreign investment’ despite our Title Deeds becoming perhaps our biggest export!   When foreigners buy our property it means less for the Australian HNW and UHNW to invest … less opportunities for our Super Funds … it would seem we have many home grown investors to ensure the Title Deeds remain onshore!

Begs the question how much of Australia does the CCP own?

Read more!

https://realestateinaustralia.wordpress.com/2013/10/26/chinese-new-wave-rocks-property-market/

2020 Rhodes …

THE PLAN for Rhodes was set back in December 2018

THEN Rhodes East had 274 homes … Rhodes West 5,000

50,000 People will be living within 1 Km radius in Rhodes East, Rhodes West and Wentworth Point with the development of Rhodes East to match that of Rhodes West

Towers were raised from 40 storeys to 46

AND only three bedroom apartments to have a guaranteed parking space

Read more:

https://www.dailytelegraph.com.au/news/nsw/highrise-school-scrapped-in-exchange-for-even-more-units/news-story/40d8e36acb88ae274cfac17b8bb6b4dc

2020 … The NSW government has more plans for Rhodes to become a high-rise region! 

It’s now an Inner West suburb … across the river from Ryde …

With tower heights of 25 to 45 storeys

Including Billbergia’s Rhodes Central Towers

The revised plan of 2020 could allow for a renaissance on both the west and east of the station towers of 25 – 37 storeys said to taper down towards the river and the existing suburban area …

With its population of 50,000 the Department has identified the potential for a new primary school, and 200 ‘affordable’ homes …

The draft plan is on display until 9 October  

WITH China’s Country Garden and Greenland Precincts on the east side at North Ryde and now Rhodes mushrooming … it is somewhat confronting driving down Ryde Road …

READ MORE!

https://theurbandeveloper.com/articles/plans-to-build-up-rhodes-revealed

LIKE CAAN ON FACEBOOK!

https://www.facebook.com/Community-Action-Alliance-for-NSW-744190798994541/?ref=aymt_homepage_panel

CAAN WEBSITE:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

TIM LAWLESS asks the question: ‘Will Stalled Migration Stem Housing Demand?’

And then it seems from this article that all is not revealed about what went on pre Covid-19!

Through visa manipulation a vast range of temporary visas allowed the holder to buy Australian Real Estate to gain a Permanent Resident Visa!

And with a mere 160,000 permanent migrants outnumbered by Temporary Visa holders, for example, in May 2019 their numbers surged past 2.3 Million

And many were lured here esp. those from our Big Neighbour to the North when they bought our real estate to gain a PR Visa and Medicare benefits!

Further, the property sector esp. over the past decade were unable to build the supply to keep up with the ‘foreign demand’ for our housing which may also explain why much of our housing was poorly constructed …

AGAIN it would seem the property media is spinning … somewhat … in saying that ‘the large majority of temporary migrants will not be purchasing a home in Australia; they rent’

BECAUSE those seeking to buy a ‘new home’ can do so on line through e.g. Juwai and gain a ‘PR Visa’ … they are no longer on a Temp. Visa …

This PR Visa has long been the lure.

They can also purchase through a Proxy Buyer, they can buy several homes, and they can launder ‘black money’ in our real estate because the Real Estate Gatekeepers are exempt from the second tranche of the AML legislation!

Martin North has said there will be a 30 to 40% fall in apartment prices due to the collapse of this Ponzi …

Who were all these high-rise apartment precincts scattered all over Sydney built for? … cough … cough … this high-rise demand was not there prior to the Visa manipulation that has taken place …

WILL there be an opening for a return to building homes for aspiring Australian First Home Buyers? That would boost our economy …

Read more from the Property Spin then search CAAN WEBSITE to learn more!

https://bit.ly/3i4vwK5

CAAN WEBSITE:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

St Hilliers Towers for Central Coast Quarter

THIS explains why the Gosford Public School was sold off in 2014  … located slightly to the south of the centre of Gosford.

DESPITE the alert from Martin North and others …

THAT as a consequence of the Pandemic … particularly with the masses of poorly constructed high-rise on the urban fringes, and further in as well with prices falling up to 30 to 40%, and with too much stock all looking the same, and on the market at the same time.

WHY is this happening now in Gosford despite a lot of concern that the development is too large for the area … but they obviously know more about the future than we do …

IT all points to big plans from those with power and influence for Gosford.  They will ensure they prevail, this sort of money won’t be deterred.

ALSO the site at the corner of Mann Street and Donnison Street … though  a smaller development, again it is mixed use – they all are these days

WHEN the demolition was taking place we spoke to a chap who suggested, like recent developments in Parramatta, it was ‘ME’ money and more than likely marketed to Chinese buyers

NO DOUBT its appeal is because it is …

.urban
.high rise that can be populated by cohort
.close to public and private schools
.close to selective school
.close to shops; a must
.close to train
.close to hospitals
.close to club

READ MORE!

In the leadup …

2020 VISION FOR TWIN TOWERS’ about a development in GOSFORD CBD said to be ‘State Significant’ builds …

$400M Archibald development of 2 towers including 300 apartments, hotel of 167 suites, 25 floors plus retail, bars and restaurants.

It was originally in 2015 the work of Peter Zhu but new owners of the Archibald are keeping their identities secret, why?

The Central Coast Quarter development application has been lodged for a hotel/entertainment destination at the southern end of Mann St … was this what the sell-off of the Gosford Public School was all about?

Plus another developer down the road is proposing 3 buildings between 8 and 24 floors to include much the same …

AND the Lederer Group is planning a development near Kibble Park, Gosford of 5 buildings 20 to 30 storeys … OMG!

The beautiful harbourside setting of Gosford to disappear for ‘Vibrancy and the emerging population’ … from??

SOURCE:

https://www.dailytelegraph.com.au/newslocal/central-coast/gosford-cbd-developments-gosford-alive-and-central-coast-quarter-das-lodged/news-story/00f2f45b263cb65ba2e0d796b9e4dc92?fbclid=IwAR30sKgTUXcjlzvWnEq3lCgPt4tBtAo4Byc_Ff1f4G455vWMgdAy8BpCpAA

How was all this development fast-tracked?

The NSW Planning Minister .. back then … appointed a new Co-Ordinator General to enforce development of the Gosford CBD …

Note … contrary to the ‘Central Coast Enforce’ the Gosford Waterfront was included in the draft CBD DCP!