Is Australia set to offer Hongkongers Visas?

IS Australia set to offer HongKongers Visas? Will the Protesters get a look-in?

SHARE the following comment because we too were equally alarmed!

How many, or would that be ‘how few Hong Kong Protesters’ would be offered these Tiananmen Visas … as they are bundled off to gaol ??

SELECTED COMMENT ON THE SMH REPORT:

From MB

“Coalition hard right arch conservative backbencher, Kevin Andrews was on the ABC spruiking this thought bubble and I was gobsmacked at the logistical and economic consequences of his delusions.

He quoted a figure of 100,000 to 200,000 young Hong Kongers coming to Australia where they would be able to ‘go to university’ and enjoy the warmth of Australian compassion for refugees of all ethnicities and religions.

Fanciful stuff during a pandemic travel embargo, and where foreign students are expected to pay upfront and be able to support themselves and where there is an unemployment explosion amongst young people here in Australia.

The rich older folk with British passports could go to England, and if you read the Chinese Global Times, this move will be another nail in the coffin on any Australian economic recovery.

READ MORE!

https://www.globaltimes.cn/content/1193822.shtml

Why do they keep shooting themselves in the foot when they haven’t shown any compassion for refugees from other parts of the world in much greater need and when Andrews as Immigration Minister cut the intake of refugees from African countries because ‘some groups don’t seem to be settling in and adjusting to the Australian way of life.’

“AND … this is what CAAN wrote about this outrageous proposal!

https://caanhousinginequalitywithaussieslockedout.com/2020/07/07/why-should-the-morrison-govt-lure-hnw-from-hong-kong-on-the-say-so-of-a-wealth-manager/?fbclid=IwAR2SHUs7Ni1qbji-eWxb1Mq9W5d2tjGocCLyhGL51YPsOfub1iN86HpLxCg

VIEW today’s report in the SMH:

https://www.smh.com.au/world/asia/australia-poised-to-offer-tiananmen-style-visas-to-hongkongers-20200708-p55a5j.html#comments

Part 3 … How have the Mega Rich Foreign Buyers Changed the North Shore?

COME join us for a wander around Lindfield in the NSW Seat of Davidson.

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CAAN Photo: Jonathan O’Dea DAVIDSON MP; Building for Tomorrow
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CAAN Photo: Redevelopment underway in Milray Street behind O’Dea’s office

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CAAN Photo; One of the few remaining homes in Milray Street, Lindfield at the opposite end of the street.

SHARE!

ONE may well ask what has brought about the big changes in Lindfield and neighbouring Roseville and Killara? 

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CAAN Photo: Milray Street, Lindfield runs parallel to Lindfield Avenue which runs alongside the railway line. Only half a dozen homes remain at this end of the street now built out with apartments. In the background the apartment developments in Lindfield Avenue.

WHEN Jonathan O’Dea has been the NSW Liberal MP for Davidson since 2007, and he again retained the seat in 2011 with the O’Farrell Government, and to date!

‘Building for Tomorrow … And ‘Delivering for Today’ is the current NSW Liberal Party Motto

DESPITE the protests from this Electorate concerning the demolition of beautiful Federation Homes and gardens for residential apartmentsit continues … as O’Dea resides in Lindfield with his family.

With a look at O’Dea’s Home Page it notes his Masters Degrees, and Bachelor Degrees along with two Diplomas in Legal Practice and ‘Mastering the Boardroom’ … no doubt this skills base has been very useful in Davidson for this MP …

BECAUSE all it seems the established residents can look forward to is a new underground carpark. Was this to placate them because their streets were being parked out? With the apartment developments housing X times the number of people as they replace detached homes on large grounds?

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CAAN Photo: Lindfield Village Green to open in 2021 with an underground carpark

Fences have been built to protect the street trees while construction is underway …

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CAAN Photo: Fences built around the street trees to protect them while neighbouring construction is underway.

We continued with our wander in Lindfield and noticed among the real estate agencies there were Belle, Savills and First National.  The sign read for ‘First National Real Estate Lan – Dom’ … quite unusual don’t you think?

With a google search it revealed that Lan Zhang and her husband started their own agency in 2015. Behind them were 26 years sales experience for Dominic Smith and Lan’s 20 years in trading throughout China and Europe.  And her extensive reach to mainland China, her language skills, and full understanding of Chinese culture

https://www.allhomes.com.au/agency/first-national-real-estate-lan-dom-515549/

Perhaps this along with some other Real Estate Agencies access to WeChat, Ray White’s Chinese ‘Home Link’ … could explain why there has been such a demographic change and population growth for the North Shore particularly in Lindfield?

AS the CCP expand out from their city of Chatswood!

In case you missed Parts 1 and 2 of this CAAN Report view them here:

https://caanhousinginequalitywithaussieslockedout.com/2020/05/17/foreign-buyers-from-hong-kong-taiwan-are-buying-prestige-aussie-property-online/?fbclid=IwAR22nHMTQoUKNkE8Jxrj5QGqcpsvHIe-gK6btI0kT2I0-hU0oKhwoPOPNOI

https://caanhousinginequalitywithaussieslockedout.com/2020/05/23/part-2-on-mega-rich-foreign-buyers-scooping-up-north-shore-mansions-online/?fbclid=IwAR3IdozDVm_lyRTzVIDgdk-wp17XwDsPSuhz4EyUce7egNPophcIS05fbrU

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CAAN Photo: the changing face of the shopping strip on the eastern side of Lindfield Station.
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CAAN Photo: A large Residential Apartment development “Refined” by the Chinese-backed Sydney developer Mayrin Group. This project to provide 1, 2, 3, 4 and 5 bedroom apartments! Sales promoted through WeChat

CAAN will continue with its walk around Lindfield in Part 4 …

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Home Buyers from Over There lured by the low Aussie Dollar … market slump … investment protections … wealth and health

MEANWHILE on the ‘Almost Australian’ program the story of an Afghani child orphan who made his way here alone as a refugee yet he is still on a ‘Temporary Protection Visa’ more than 10 years later … but Money Launderers are welcome in abundance … ‘what a corrupt little nation we have become’ – to quote LVO from memory!

Key Points …

Emma Vadas from Standen Estate Agents said 90% of enquiries from Chinese have consumed her company with proposals

-these are buyers who have bought and sold 2 to 4 years ago

-real estate speak:  ‘such big drops would not happen if a large number of foreign buyers swooped in to capitalise on a temporarily depressed market’

WHY does the FIRB not ensure that the property market is only open to Australian buyers esp. in a recession?  Enabling Australians to take advantage of lower house prices … FFS!

YET foreign buyers who are prevented from flying here can buy Australian homes online!

WHAT sort of a government allow the FIRB, and real estate marketers in China luring parents of students studying in the US and the UK to look to Australia

-offering permanent residency with Medicare benefits and access to a range of Visas for family members

Australia a SANCTUARY … with everything they want … and they are coming for it … and you know what … you can’t blame them … BLAME OUR GUVMNT … as they languish before the CCP hoping for an enquiry as our YOUTH are condemned to a life of poverty!  FFS!! 

Related Article: ‘Juwai China is back in Business ahead of the World and Chinese Property Buyers are back in Australia’

https://caanhousinginequalitywithaussieslockedout.com/2020/05/13/juwai-china-is-back-in-business-ahead-of-the-world-and-chinese-property-buyers-are-back-in-australia/

READ MORE!

‘Fears Australian Housing Prices surge Foreign Investors look to snap cheap properties’

https://www.dailymail.co.uk/news/article-8327221/Fears-Australian-housing-prices-surge-foreign-investors-look-snap-cheap-properties.html

Chinese buyers particularly liked places close to schools and universities that weren't particularly expensive by Australian capital city standards. Pictured: people attending an auction prior to coronavirus social distancing restrictions
Chinese buyers particularly liked places close to schools and universities that weren’t particularly expensive by Australian capital city standards. Pictured: people attending an auction prior to coronavirus social distancing restrictions; Photo Daily Mail

JUWAI: CHINA IS BACK IN BUSINESS AHEAD OF THE WORLD … AND CHINESE PROPERTY BUYERS ARE BACK IN AUSTRALIA

CHINA IS BACK IN BUSINESS AHEAD OF THE WORLD … AND CHINESE PROPERTY BUYERS ARE BACK IN AUSTRALIA … further confirmation from this report on ‘A Current Affair’

CAAN has been sharing the truth with you through Expert Reports since November 2014 …

NOW it appears it has taken the frightening consequences of the WUHAN PANDEMIC … to bring home the message to our politicians and even some of those who have prospered so much from Chinese buyers in the Australian Property Market …

WHAT will it take for the Morrison Government to implement and enforce the second tranche of the Anti-Money Laundering Laws for the Real Estate Gatekeepers?

-having exempted these gatekeepers in October 2018

WHEN the ‘flying pegasus’ presents a major security and financial risk to Australian Society … ?

ASK why has it taken so long for NINE … a major media network to tell it as it is?

CAAN will go even further than the closing comment of Robert Klaric, Real Estate Industry Advisor especially concerning Chinese property buyers …

‘They have a lifestyle, they have freedom, and they can protect their wealth from the CCP,  from the Chinese Communist Party.’

Because the CCP controls all its citizens … it has been so easy for the Party not having to conduct military warfare but simply for Party members to arrive on a Flying Pegasus … in a Silent Invasion … and buy Australia’s National Estate … who can we thank for this? 

Who has had the greatest hand in this? 

Also view these related articles:

‘Juwai predicts Chinese Investors remain keen to buy Australian property: Are they seeking cheaper prices?’

https://caanhousinginequalitywithaussieslockedout.com/2020/05/07/juwai-predicts-chinese-investors-remain-keen-to-buy-australian-property-are-they-seeking-cheaper-prices/

How benevolent of Chinese Buyers to scoop up Australian Housing: This is aside from Ambassador Cheng Jingyes threat?

https://caanhousinginequalitywithaussieslockedout.com/2020/05/11/how-benevolent-of-chinese-buyers-to-scoop-up-australian-housing-this-is-aside-from-ambassador-cheng-jingyes-threat/?fbclid=IwAR1aUQT9naUzGr_bc3dVQ4OfP61u_J92r9UhXRLCsi75cALmNpaAag4OCpI

TRANSCRIPT:  FOREIGN BUYERS:  ‘THEY’RE BACK’: A CURRENT AFFAIR

As our borders closed, local house-hunters thought the competition would ease. And It did for a while. But foreign buyers with deep pockets are back. #9ACA

Brady Halls, Reporter:  Estate Agent James Crowe is finally back doing what he does best. (Morton Real Estate)

And Nicki and Jay have been chomping at the bit to get back into the race.  The couple have been house hunting for a year now, and the Covid shutdown made their search even slower.

Nicki:  It did a lot, a lot of the properties actually dropped off the market we saw;  so things that we had been watching to see the prices fall were no longer on line. 

Halls:  But now another obstacle has popped up.

(Chinese buyers occupying auctions)

Nicki:  We don’t need any more competition than there is already.  We want to find something as soon as possible before the rest of the World!

Halls: And that competition is coming from where Covid began!

Lulu:  We are actually busy.

Michael Pallier:   Yeah, we just sold this house to a Chinese buyer, and they specifically bought it to use when they are not in China. *

Georg Chmiel, Executive Chairman at Juwai-IQI:  China is back in business much earlier than the rest of the World.

Pallier: (As he looked over a balcony he indicated to Brady Halls) 

New Chinese owners there, Chinese owners here, and the whole of this area is, you know, Chinese population.

Robert Klaric:  What we will see is that the wealthy mainland Chinese will look towards Australia now to secure their wealth and secure their health*

CAAN:  As shared previously with you … when foreign buyers buy our residential property they can gain a ‘Permanent Resident Visa’ with MEDICARE benefits thrown in!

And through Visa Manipulation, and able assistance from Migration Agents they can access a vast range of Visas including:  student, investor stream, Family, Parent, Grandparent, and Guardian … the whole Family Clan may come to  Australia!

Halls:  Chinese money is starting to flow back into Australian property.

These new apartments in Sydney and Melbourne have reportedly seen unprecedented sales and enquiries from wealthy Chinese taking advantage of our Covid-19 affected real estate market.

Chmiel:  Chinese enquiries were only down 14% in the first quarter versus 40% for local buyers so much, much less than the local buyers.

Halls: Georg Chmiel is from Juwai, a Chinese property portel.  So the demand from China has not fallen?

Chmiel:  Definitely for a number of reasons on the one side Australia managed the Covid crisis really well;  Australia is very attractive for students, investors and retirees, and also the market, the Australian property market is very resilient.

Halls:  Michael Pallier and wife Lulu from Sotherby’s Realty in Sydney’s east vouch for that.

Michael Pallier:  We have had quite a bit of interest from people from Asia.

Halls:  This apartment is generating much foreign interest.  And he sold another one below to a Chinese buyer only last month.

Pallier:  They can’t get enough of it – clean air, clean food, great education, safe environment … it’s, it’s paradise for them.

Halls:  What’s the appeal here in terms of Aussie property?

Chmiel:  Chinese buyers like Australian real estate especially over UK and US real estate given the Covid Crisis has hit the UK and US much, much stronger.

Klaric:  A lot of the mainland Chinese are seeing this as an opportunity to exploit a great deal because that’s what they are going to see in a property market for the next six months.

Halls:  Robert Cleric is a real estate industry adviser, and he has had his share of dealings with Chinese buyers now keen to buy up our properties during this Covid crisis which he says has seen prices drop by ..

Klaric:  Probably seen 10% during this period

Halls:  And then there’s been the fall in the Aussie dollar making our property far more attractive to overseas buyers.

Chmiel: That’s absolutely true.  It’s the Australian dollar is down 10% against some of the currency so that’s a nice buffer which people can include in their budgets.

Halls:  Lulu is fielding many Chinese inquiries ..

Lulu:  Yes, there’s always demand.

Halls:   On this house with its lovely harbour views –

Lulu:  And the Chinese people will always like Australia.

Halls:  And across town James at Morton Real Estate is much the same.

Crowe:  We have got lots of those clients who are certainly still in the market, and still keen to buy.

Halls:  This three-bedroom terrace he is marketing just walking distance to the city has caught the eyes of both domestic and international buyers prompting frustration from this local onlooker.

Australian Buyer: The Australian property is treated as an investment not as somewhere you live;  so unfortunately that has affected the market extensively.

Halls:  Robert Cleric believes it’s time Australia didn’t sell its property but long term leased it like Asian countries do.

Until then he says Australia offers Chinese buyers a wonderful security blanket.

Klaric: They have a lifestyle, they have freedom, and they can protect their wealth from the CCP, from the Chinese Communist Party.

SEARCH FOR ‘FOREIGN BUYERS THEY’RE BACK’ ON ‘A CURRENT AFFAIR’ 12 MAY 2020

(NINE A CURRENT AFFAIR LINK BLOCKED!)

VIEW A SHORT REPORT FROM BRADY HALLS:

https://9now.nine.com.au/a-current-affair/aussie-real-estate-reportedly-attracting-chinese-buyers-following-covid19-pandemic/498e9c93-f726-427e-bb6a-b832bac517dd

New apartments in the major capital cities have reportedly seen unprecedented sales and enquiries from wealthy Chinese taking advantage of our COVID-19 affected real estate market. (A Current Affair)

HOW Benevolent of Chinese Buyers to Scoop Up Australian Housing … this is aside from Ambassador Cheng Jingye’s threat …

LOOK at this … they talk of this as:


-as a real thing, that it is ok

-as if foreign ownership of Australia’s domestic housing is as legitimate as anything else

-as if it has no impact on the supply of affordable housing for Australians

-as if our domestic housing is merely another commodity

RELATED ARTICLE … also having James Laurenceson’s involvement … hm …

JUWAI predicts Chinese Investors remain keen to buy Australian Property … are they seeking cheaper prices?

https://caanhousinginequalitywithaussieslockedout.com/2020/05/07/juwai-predicts-chinese-investors-remain-keen-to-buy-australian-property-are-they-seeking-cheaper-prices/

And then again what do we expect …

Not much it seems …

After all what country would

-sell off control of its ports to foreign companies closely associated with or owned by foreign governments

-sell off much of its dairy production processing to foreign companies with similar foreign government connections

-sell off major pastoral assets to foreign entities including government-owned … state-owned enterprises

-sell off water entitlements to foreign companies again many of them with strong links to foreign governments

-sell off housing development sites in the inner city and outer suburbs of our major cities

-SELL OFF … the list goes on!

WAKE UP AUSTRALIA and call a stop to this erosion of our Sovereignty

READ MORE!  ‘How Chinese Investors SAVE Australia’s Housing Market Despite Ambassador Cheng Jingye’s threat’

https://www.dailymail.co.uk/news/article-8272323/How-Chinese-investors-save-Australias-housing-market-despite-ambassador-Cheng-Jingyes-threat.html

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JUWAI predicts Chinese Investors remain keen to buy Australian Property … are they seeking cheaper prices?

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CAAN Photo: Natura by Romeciti Waterloo Road Macquarie Park now underway. Have all the dwellings been sold off the plan or are there some not yet sold to go onto the lease market?

JUWAI predicts Chinese Investors want to buy Australian Property … are they seeking cheaper prices?

BECAUSE Chinese real estate firm Juwai IQI said they expected foreign buyers to Australia’s capital city markets where prices are expected to stagnate or fall.

EXTRACT from Juwai website:

39-year-old Boris Mei works in the Chinese export industry. He is one of the more and more Chinese people who want to buy real estate overseas.

He said: “I am thinking of Los Angeles or Melbourne because we have relatives in both cities. We hope that our 14-year-old daughter can study in these two universities and experience the overseas lifestyle. In the future, we may emigrate the whole family.’

View:

https://www.juwai.com/news/311552.htm

FURTHER, that currently inquiries from China are down 14%, and that demand from local Australian buyers has fallen further.

Marketers are pushing more buyers to look at Australia instead of the U.S. and the U.K.

Juwai and others continue to peddle the myth that these buyers are only permitted to buy ‘new homes’ under foreign investment regulations … however once they gain a Permanent Resident (PR) Visa following real estate purchase,  they can buy established homes too!

And/or another loophole while on a Temp Visa if they buy an established home (allowed for the time of the Temp. Visa) they can demolish it for a ‘new home’.

It is reported that auction clearance rates have halved to 33.8 per cent in the week to 19 April due to the shutdown of in-person auctions on 24 March, and the closure of our border to Chinese tourists; enacted on 1 February.

However, the property sector has clout and the restrictions are to be eased this Saturday 9 May in NSW.

Prof. James Laurenceson (the Acting Director of the Australia-China Relations Institute at the U.T.S. ) (ACRI) said ‘cashed-up’ (is that ‘hot money’?) property investors obviously are likely to maintain their interest in Australian apartments.  Why wouldn’t they with a PR Visa and medicare benefits following purchase … and the ability to bring out the whole family through a range of Visas including: Family, Student, Parent, Grandparent and Guardian?

To top it off he said that the Chinese economy would better resist the CoronaVirus … giving the Chinese more money to spend overseas, and that …

-China’s wealth has not disappeared

-no property price collapse in China

-one common form of asset for Ch households

With friends like the FIRB and the ACRI what more do they need?

With the oversupply of off the plan apartments perhaps developers are pushing for the floodgates to be opened to offload their defective dwellings to the money launderers?

LET’s hope in the process that Australia is not beset with a second deadly wave of Covid-19?

WHY the push to fast-track more development for Chinese buyers when there is an urgent need for social housing for Australians?  200,000 Social Housing dwellings!

Perhaps it is too late for the FIRB to keep its guard up?  Time for it to go!

However, Martin North from Digital Finance Analytics contrary to Laurencenson said the Chinese economy is not strong. And that China is encouraging its people to invest in China

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CAAN Photo: Note ‘For Sale/Lease’ sign displayed for CHINESE DEVELOPER JQZ of its Prime Precint in Waterloo Road Macquarie Park. Perhaps this bears out what Martin North is saying that China’s economy is not so strong; that China may have again restricted money leaving China? Note bottom righthand corner the WeChat symbol!

Read more: ‘Chinese investors are waiting to snap up Australian property at cheap prices once travel restrictions are lifted’

https://www.dailymail.co.uk/news/article-8282993/Chinese-investors-preparing-buy-cheap-Australian-property-restrictions-lifted.html

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CAAN Photo: Natura in Waterloo Road Macquarie Park; the majority of dwellings would have been sold off the plan

IS IT ONLY BECAUSE AUSSIES ARE ON SH.T WAGES … INSECURE WORK … AND PROPERTY INVESTORS BUY UP MOST HOMES THAT HAS LED TO THE DECLINE IN HOME OWNERSHIP?

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CAAN Photo: See that little symbol for WeChat on the right hand corner … look for this symbol on all ‘For Sale/Auction’ signs …

VIEW RELATED ARTICLE ON THE FIRB:

https://caanhousinginequalitywithaussieslockedout.com/2020/03/08/how-has-the-firb-escaped-scrutiny-about-alinta-and-a-black-box-that-needs-an-overhaul/?fbclid=IwAR0_1SHmOBJSIATYg4de_FVm6inpXCK2Arnqjm5zmCy2OleTxQN_fQsAI7A

AND SEARCH CAAN WEBSITE … for more reports on …

-the Foreign Investment Review Board, (FIRB), David Irvine and Phil Gaetjens

-the second tranche of the Anti-Money Laundering Laws shelved; the real estate gatekeepers made exempt in October 2018 by the Morrison Government

IS it WorkChoices by Stealth alone that is at the core of the loss of Home Ownership? Or is there more to it?

… FINALLY a little truth is revealed in this article but what is at the core of the rotten apple is again overlooked!

‘How Australia’s casual workers and investors are behind the decline in home ownership

IT is not only the inflated price of housing but new research reveals that the casualisation of the workforce and the growth of property investors together have led to the decline in home ownership ….

HOWEVER what is not revealed here is that it is not only homegrown property investors but a World-wide market particularly from China with a resource of some 1.4 BILLION People including millions of High Net Worth! 

That is perhaps where ‘the growth in property investors’ stemmed from … a consequence of the ‘FIRB’ ruling allowing developers to sell 100% of ‘new homes’ overseas

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CAAN Photo Chinese Developer JQZ Prime Precinct in Waterloo Road Macquarie Park

The report, Australian home ownership: past reflections, future directions

Predicts:

-by 2040 those aged 25 to 55 will have only a 51 per cent chance of owning their own home

down from 60 per cent in 1981

home ownership will fall to 63 per cent; down from 67 per cent in 2016

QUESTION:  How many of that 67% in 2016 are Australian born compared to new ‘Permanent Residents’ from overseas?

Swinburne University of Technology undertook the research on behalf of the Australian Housing and Urban Research Institute. (AHURI)

-in the 1950s, ‘60s and ‘70s the majority had stable incomes in full time work

-a change occurred in the 70s;  now more than 24% have casual work

-casual work locks out these workers from gaining a mortgage

No refererence to where ‘the demand’ for Australian housing came from?

Which caused the price hike …

Professor Burke came close with this comment:

“The financialisation of housing is an international factor and is best understood as the process where housing is treated as a commodity to be invested in rather than a home, meaning more and more money flows into housing but without any necessary improvement in housing supply or quality,” he said.

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CAAN Photo: Chinese Real Estate Agency ‘Sunny Group’ for JQZ PRIME Macquarie Park

Professor Burke conceded that:

-renters needed greater security and quality housing

-policies to enable them to build wealth

-more social housing was needed

BUT THEN rather than laying the blame at the feet of very pooor government policies written to benefit developers and their overseas buyers particularly from China the Professor laid the blame at the feet of ‘older home owners’ having acquired wealth … often over 40 years or more to buy the ‘family home’ … it is alleged wealth through home ownership … aside from the cost of maintenance, rates, taxes

Forgetting that if one sells, it is at a loss with the cost of real estate sale, legal expenses, stamp duty, moving etc etc

-that the inflated price is due to the foreign demand particularly from China

the Morrison Government exempted the Real Estate Gatekeepers from the second tranche of the anti-money laundering laws in October 2018

IT would seem these are the reasons that we will have long-term social problems until AUSTRALIANS jack up and demand a stop to these policies!

AND a thorough investigation of the FIRB! Disband the FIRB!

AND VOTE FOR A PARTY THAT WILL ADDRESS THIS!

READ more from Melissa Heagney, ‘How Australia’s casual workers and investors are behind the decline in home ownership’

The China Vision Times writes with hubris …

AUSTRALIAN HOMES are being ‘banked‘, demolished for medium-density

IT was put about early in the term of the NSW Libs that SYDNEY WAS GROWING … we have to have higher density to meet the population growth … that this would be addressed by developing high-rise Precincts near railway stations, and on bus routes …

BUT that has not been enough … with Millions of ‘buyers’ overseas …

Former Urban Taskforce CEO, Chris Johnson in a 2018 media release reported that ‘30% of dwellings in Sydney are apartments with 14% being townhouses and 55% detached houses.

By 2024 the detached homes will have dropped to 49% and apartments grown to 34%.

In 40 years-time apartments are predicted to be 50% of Sydney’s homes with 25% as townhouses and 25% as detached houses.

WHERE have all the buyers come from? For both high-rise and urban sprawl … as our Australian Heritage and neighbourhoods are demolished for ‘Exempt and Complying Development’ … of terraces, townhouses, triplex and duplex

‘The Chinese Vision Times‘ writes:

‘ … almost 4.2 million people moved to Australia between 1945 and 1985. These people built homes inspired by their European backgrounds and contributed heavily to the aesthetic and architectural culture of Australia. Today, these post-war homes are increasingly being demolished.’

(Image: Screenshot / YouTube)

Property prices in Australia have almost rebounded back to their peak levels after falling for several months. (Image: Screenshot / YouTube)

WITH yet another surge of overseas buyers from China and Hong Kong …

NOW one reads in ‘The Chinese Vision Times‘ ‘Good Ol’ Post-War Australian Homes Face the Bulldozer. ‘ writes in its very confident way …

With such hubris

Australian’s today have no use for such big homes so they are being bulldozed.

(Image via pixabay / CC0 1.0)

Australian’s today have no use for such big homes so they are being bulldozed. (Image: via pixabay CC0 1.0)

And there have been so many beautiful Heritage and Mid-Century homes bulldozed for fugly development of duplex, townhouses and terraces now devouring where we live as more fly in … to launder their ‘hot money’ for their Permanent Residency

CAAN FACEBOOK:

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

WEBSITE:

https://caanhousinginequalitywithaussieslockedout.wordpress.com/

Mystery surrounds the $60 million Chinese owned vacant estates of Toorak

The Mansion on St George’s Road TOORAK was flattened 4 years ago DESPITE its Heritage Listing …

The last time the property was up for sale was in 2013; a couple paid $18M for it and then demolished it in 2015.

That caused much controversy in this community as many considered this Mansion to be the centrepiece of this very lavish street.

-the site is up for grabs with an asking price of $40M

-the local community action group have expressed the desire for a single dwelling of two storeys

‘the sale is happening off the market’

WHAT does this mean?

-is it selling or has it already been sold without public advertising?

-what is the urgency for an immediate sale?

-are the vendors in trouble with the CCP?

HOW likely is it that they would be in trouble with the Australian authorities when the Real Estate Sector is exempt from Anti-Money Laundering Laws?

RELATED ARTICLE ….

https://caanhousinginequalitywithaussieslockedout.com/2020/02/22/how-did-the-real-estate-gatekeepers-weasel-their-way-out-of-the-second-tranche-of-the-anti-money-laundering-laws/?fbclid=IwAR3FZylMqsZU9KPlRt8bb8Osrn60TTTt9HvuOMTFSO7KCdOtKKCKRAyBmCY

Mystery surrounds the $60 million Chinese-owned vacant estates of Toorak

Tom Cowie
By Tom Cowie

View all comments

Nearly $60 million worth of real estate in one of Toorak’s most-exclusive streets has been reduced to a patch of dirt, with mystery surrounding what’s going to happen to it.

On well-heeled St Georges Road, where two grand mansions once stood side by side, sits a couple of Melbourne’s priciest vacant blocks after bulldozers razed both properties.

Melbourne real estate records were smashed a few years ago when a Chinese buyer paid just under $40 million for the 1920s Mowbray mansion at 18 St Georges Road.

The gates of Mowbray remain after a 1930s mansion was knocked down in Toorak.
The gates of Mowbray remain after a 1930s mansion was knocked down in Toorak.CREDIT:LUIS ENRIQUE ASCUI

The palatial six-bedder, sitting on 5000sqm with a swimming pool and tennis court, succumbed to the dozer blade in recent months after it was damaged by fire and vandals started getting inside the vacant property.

The gates bearing the Mowbray name are still standing.

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Title documents show the property belongs to a buyer by the name of Qi Yang. The Australian Financial Review reported at the time that Mr Qi won Foreign Investment Review Board approval to buy the land, which came with a hefty $5 million stamp duty bill.

The City of Stonnington said no plans had been lodged for the property after a demolition permit was granted in May last year.

The vacant block at 16 St Georges Road in Toorak.
The vacant block at 16 St Georges Road in Toorak.CREDIT:TOM COWIE

Under the council’s planning scheme, a building permit is only required for two or more dwellings or a subdivision.

There is no sign of tradies next door either, since the Idylwilde mansion was controversially torn down in 2015, prompting an outcry in the community over lost heritage.

Bought for $18.5 million in 2013, the former landmark 1913 estate at 16 St Georges Road is now chock full of weeds and surrounded by security fencing.

*The lack of action has prompted speculation about landbanking.

The former house at 16 St Georges Road, Toorak.
The former house at 16 St Georges Road, Toorak.

*Owner Xiaoyan “Kylie” Bao put the property on the market last year with a $40 million plus price guide after plans to build a grand $18 million home were shelved.

However, one buyers’ advocate who deals with high-end property said the owner would be lucky to get anywhere near that.

The Idylewilde mansion was destroyed in 2015.
The Idylewilde mansion was destroyed in 2015.CREDIT:EDDIE JIM

“They paid way over the top,” the property watcher said.

Those two vacant blocks could soon be joined by another, if a third mansion is demolished further down the street.

A 7200sqm block at 29-31 St Georges Road is quietly up for sale after sitting dormant for nearly three decades.

*The rumoured asking price is as much as $75 million, after the property was bought by the Yu family for $5 million in 1991.

A chunk of change like that would obliterate the property record established by Mowbray and later eclipsed when Australia’s former government house, Stonington in Malvern, sold for $52.5 million in 2018.

The former Mowbray mansion at 18 St Georges Road in Toorak.
The former Mowbray mansion at 18 St Georges Road in Toorak.

Several planning applications have been knocked back over the years to build units on the land, however there might finally be a change of ownership around the corner.

A half-built French Renaissance-style house on the land would probably be knocked over, according to selling agent Andrew Baines.

“It’s purely land,” he said.

The tennis court, pool and mansion are no more at 18 St Georges Road.
The tennis court, pool and mansion are no more at 18 St Georges Road.CREDIT:LUIS ENRIQUE ASCUI

Toorak Village Residents Action Group president Eddie Young said the neighbours were waiting to see what would happen with the properties.

He said he had been told that a single dwelling would be built at 18 St Georges Road, which locals were pleased with.

Next door, however, was another story.

“It’s a mystery,” he said. “And it looks dreadful.”Play Video

Coronavirus evacuees describe relief

Play video1:30Vacant Toorak block on the market for $40 million

VIEW SOURCE LINK BELOW TO PLAY VIDEO

A controversial block in Melbourne’s blue ribbon suburb of Toorak is up for sale with an eye-watering price tag of $40 million.

Tom Cowie

Tom Cowie is a journalist at The Age covering general news.

SOURCE: https://www.theage.com.au/national/victoria/mystery-surrounds-the-60-million-chinese-owned-vacant-estates-of-toorak-20200207-p53yq9.html?fbclid=IwAR2a5Q-OIEkHlOWw6oVDFmdebBkr0bBKubq7FiFADyXOmQBLOgiszQxlQCs

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Surrey Hills auction won from Wuhan lockdown amid coronavirus

ARE such purchases made on behalf of others?

i.e. … a side deal as PROXY BUYERS to skirt restrictions on foreign buyers?

HOW confident can we be about the money?

HOW do we know it was sourced legitimately?

AND so the story goes.

Among the enticements for Australian Real Estate enabling the seducers in suits to sell … and it would seem sadly at the expense and access for Australians

-our first-class health care

.on real estate purchase a PR Visa and Medicare benefits

economic stability for money launderers …

WITH our local real estate markets again predicted to return to 2017 peak levels midway through 2020 ….

AUSTRALIA … A SAFE HAVEN …

Surrey Hills auction won from Wuhan lockdown amid coronavirus

Jack Boronovskis20 FEB 2020

The single-level Surrey Hills residence sold $350,000 above reserve.

A woman stuck in Wuhan has paid a $350,000 premium for a Surrey Hills townhouse while on FaceTime with her son as he bid at the auction.

The buyer, who is an Australian citizen, picked up 23 Bentley St for $1.65 million after competition from five other groups, mostly made up of downsizers and young professionals.

Fletchers Canterbury director Tim Heavyside said the purchaser had missed out on other properties and planned to downsize into the three-bedroom townhouse.

Six groups contested the auction.

“She’s not a resident of China, she’s an Australian citizen,” Mr Heavyside said. “She’s stuck in Wuhan (the coronavirus epicentre), but she still bought it from Wuhan by FaceTiming with her son.

“The fact that it was so close to her son made it an easy decision to buy that particular property.”

Mr Heavyside said Australia’s reputation for first-class health care and economic stability was helping the local real estate market grow, predicting it would return to 2017 peak levels by midway through this year.

“Australia is actually quite a safe haven for any type of nationality, particularly for people that are worried about coronavirus and things like that,” Mr Heavyside said.

“Being safe is very high on people’s list.”

The buyer was happy to pay $1.65 million to live closer to her son.

The home’s kitchen.

Workers transfer medical waste at Leishenshan Hospital, the newly-built makeshift hospital for novel coronavirus patients, in Wuhan on February 18, 2020. Photo: STR/AFP

Mr Heavyside said the Surrey Hills sale was a “representation of how strong the market is.”

“There’s a lot of buyers out there that are trading out of fear or greed,” he said.

The Federal Government’s coronavirus travel ban was last week extended to at least February 22. It does not prevent Australian citizens and permanent residents returning to Australia from mainland China.

SOURCE: https://www.realestate.com.au/news/surrey-hills-auction-won-from-wuhan-lockdown-amid-coronavirus/?rsf=syn%3Anews%3Anca%3Ahs%3Asocref&fbclid=IwAR1RoabU2wVd8hDODbAtNC7EDMcFHt9ylC9mlWfuTw0TTtaEei7B0op6jws

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