With reference to my above post of ten days ago readers may have watched tonight's 'The Business' on the ABC where agents are reporting a sudden 30%/50% increase in property purchasers from Hong Kong buyers. The report also speculated that, should China exert its authority, there will be a mass exodus of wealthy HK citizens to Australia using business and investment visa's to secure permanent residency. If that transpires it will mean a huge injection of demand into the high-end property sector, which in-turn will filter down to the mid-range market.
I wouldn't expect this bounce to be sustained over a long period, but combined with record low interest rates and continued lack of supply there is the possibility of a mini boom on the horizon - mostly for Melbourne and Sydney.
