There is a serious shortage of housing in London. The Russian...

There is a serious shortage of housing in London. The Russian millionaires bought up all the prime land in London and as a result construction of apartment is becoming very expensive.

London is a financial centre and is a magnet for all the people in the world like New York. So it is very difficult for prices to fall and even it did fall the prices would not collapse.

Australia is not a financial centre and have plenty of land. No way you can book all the prime land and build building on it and ask for atrocious prices. Sydney and Melbourne used to attract some Chinese billionaire prince as their playground and as China economy turns pear shape that number is diminishing.

Foreign Student enrolments could be effected as Asian economy is on the verge of recession. During the good times when a student study here, the whole family could come but with financial pinch, the whole family cannot afford to stay here resulted in less rental and if they own the property, they would probably sublet out the rooms. As we can witness today, vacant properties start to appear on the market resulting in over supply.