Get your kids to speak Mandarin we are on a giant wave of proportions not seen since the Squatters fleeced the 'Indigenous Australians'in the 1800's.
China ramps up Australian property purchases Alexander Liddington-Cox
1 Mar, 8:33 AM
Chinese investors were the largest source of foreign investment in Australian property in 2012-13, according to figures from the Foreign Investment Review Board (FIRB).
FIRB's annual report reveals that $5.9 billion of purchases in Australian property emanated from China, an increase of 44 per cent on the previous year. The result eclipsed the total approvals from the Canada, $4.9 billion, and the USA, $4.4 billion.
However, total foreign investment in Australian real estate fell to $51.9 billion from $59.1 billion.
It total, Chinese investors gained approval for $15.8 billion worth of investment, trailing the USA on $20.6 billion and Switzerland with $18.4 billion (the vast majority of Swiss investment was tied to mining, probably via the Glencore-Xstrata merger).
Canada ranked fourth in terms of total investment, followed by the UK. Japan slipped to sixth on the list.
The overall value of foreign investment fell to $135.7 billion from $170.7 billion as the resources construction boom came to an end
