Bank Shares, page-18

Overly pessimistic view of property that is still in Sydney and Melbourne relatively cheap to the incoming buyers from Mainland P.R.C. Like Shanghai and Chengdu. 59 sqm in Shanghai compares to about 700 sqm in affluent Northern Shore of Sydney, Bible Belt Auckland and S.E. Melbourne.

Xuwai and JD websites show no lack of appetite from Shanghai, Beijing and Chengdu buyers for land and property in Sydney and Melbourne. The only risk of downside is the capital outflow controls of a President Xi administration remaining permanent and not being just a transitory measure. Subjecting a nation of traders to complete property autarky is unlikely to work so I think the controls will soon be dropped; September at the latest.

It is not another one child policy. The society does not take kindly to capital outflow controls as much as Communism suited Germany. The Xi administration will not test it and will drop the controls this year IMHO..