House prices in the north shore of Sydney where mainland immigrants go are said to already be at an entry level of $3 million AUD for a basic 4 bed detached house, $2.5 million for a basic 4 bedder in SE Melbourne within walking distance of schools and Metro station.
Mainlanders on Sina Weibo are saying that Sydney and Melbourne property could double especially under Labor in 12 months as mainlanders who value education try to get themselves into the top “catchments”.
Everyone on the Mainland and those that can get out of Hong Kong are busily trying to buy anything in SE Melbourne and north shore of Sydney that they can while they still can as education for Mainlanders and Hong Kongers is most important.
Sydney and Melbourne property in the $2.5 million and above is still dirt cheap to them if in the right school “catchments” zone.
$5 million entry level for a 4 bedder in SE melbourne and $6 million in The North Shore of Sydney is pretty pricey and is making Australian property at least those in Sydney and Melbourne the most expensive real estate in the entire world if not in all of human history.
