ACB, please research on what are the top 5 spoken languages in Australia after English in 2009.
You would be very surprised. Please report your finding.
Most Chinese who reside in Australia are either from Hong Kong, Mainland China, Malaysia, Singapore, Taiwan and back in the 1980's from Vietnam (facing persecution).
Since the 1980's the bulk of them have come from Hong Kong.
If true hot money (in substantial amount - to provide a floor for the Oz national market) is coming to Australia to snap up properties, then those HK folks would have to be the dumbest in the world.
1) HK house prices are going through the roof.
2) Their currency has depreciated 30% against the AUD since early last year.
There is no denials Chinese buying have provided support in certain enclaves but it is in the overall scope of things in context of the housing crash, a drop in the bucket.
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