Group disrupts home auction in Sydney. Anti-Asian group?

[Deactivated] on 31/08/2015 - 19:01
Last edited 31/08/2015 - 19:47 by 1 other user

This happened last weekend, where a 'anti-foreign buyer' group disrupted a home auction in Chatswood, Sydney.

In my opinion, this group has a racist agenda (where a group is being discriminated against, based on race, FYI; let's not get hung up on the labelling). This is because the flags in their placard are all Asian flags, which is not (anywhere near) a good indication of foreigners in Australia.

The group is angry that these foreigners have increased competition, making it harder for them to buy homes.

  • Many buyers also buy property as an investment.

  • They are understandably angry.

However if they've done their research, they would know that it Asian nationals make up a small group of buyers:

With these stats in mind, it doesn't seem fair that it's only the Asian nations (most which aren't even in the top 10) feeling the wrath in this 'anti foreigner' demonstration.

I hope I've made my points clear.

Do you think this group is anti-Asian? Or, if you think that they're just 'anti-foreign' as they claim to be, can you explain why they're singling out only Asian nations, when this is wrong?

(I'm feeling angry about this issue, that's all. It's hard enough trying to get into the property market; don't need discriminating (profanity) to make it even harder.)

Poll Options

  • 1
    I am undecided, and will explain.
  • 140
    The group is (covertly) anti-Asian.
  • 229
    The group is anti-foreigner (as they claim).
Home & Garden

Comments

    • DavidFong on 03/09/2015 - 14:29
      +1

      Much as I would personally be dismayed if a ten-storey apartment was built next my house in Melbourne, I am afraid you are right.

      It is always awe-inspiring to come to a '2nd-tier' city in China, like Xi'an (population 6.5 million) and see in just one small corner of the city, 10 km from the centre, as many 30+ storey apartment towers under construction as you can find in the Melbourne central business district. Of course, it is not just in that small corner, but in many of the former 'villages/suburbs' of Xi'an within a 15 km radius.

      Of course, the construction might possibly be overdone (for similar reasons as to why Chinese investors are funding Australia's apartment construction-boom), but for the sake of inner-urban housing availability in Melbourne and Sydney, I wish a bit more of that 'overdone' enthusiasm would be transferred to Australia.

      (btw - I did once live on floor 30 of an apartment tower in Xi'an. Watching the thunderstorms roll-in was pretty cool!)

      • scrimshaw on 03/09/2015 - 19:50

        We could build loads of apartments.. there's lots of land especially in the western sydney area. And yes, 4+ storey units have sprung up to keep up with the demand however there's the issue of road infrastructure as well.

        Urban population density is increasing year after year but unfortunately our roads can't keep up.
        We cannot just build more high rise buildings without first considering roads and public transportation:

        Traffic congestion could cost Australia up to $53bn by 2031 unless governments invest heavily in the country’s roads and rail corridors, a new report by Infrastructure Australia has found.

        The report, commissioned by the federal government, finds seven of the 10 most congested roads are in Sydney, costing New South Wales over $15m in lost time and productivity.

        But the audit warned driving times could skyrocket in all major cities.

        In Perth, Melbourne, Sydney, Adelaide, Brisbane and Canberra, without investment in new transport capacity and/or means of managing demand, car travel times are expected to increase by at least 20% in the most congested corridors,” the report states. “In some cases, travel times could more than double between 2011 and 2031.”

        • DavidFong on 05/09/2015 - 10:03

          Sadly, there are also forces at work which would work against the construction again upgrading roads and public transport.

          For example

          1. It seems at least some of the voting public would prefer that $1bn be 'thrown away' rather than see the East-West road tunnel be built in Melbourne

          2. It is, to me, an obvious choke-point in the MacArthur Road/Elliot Avenue in Royal Park(between Princess St and Racecoruse Road), but I think I've already heard the outcry from proposals of changing that one-lane stretch of road to two-lanes, for the sake of a few trees in the VERY large Royal Park (and the open green sections are not that well patronised, given the total area and nearby population density.)

          3. Wouldn't it be wonderful if the relatively quiet Upfield Railway Line, with the multiple congestion-inducing level railway crossings, was converted to an overhead railway line and extended to the airport? (also allowing the construction of a proper north-south bicycle corridor replacing the current narrow and twisting track, and helping reduce the bicycle traffic along the cyclist-killing Sydney Road). But imagine the outcry from nearby residents if that was done….despite the fact that their property value has no doubt already benefited from the considerable public transport services available along Sydney Road.

    • noshopping on 06/09/2015 - 15:40
      +1

      Agree 100%. The problem lies in supply and government.

  • chonghe on 02/09/2015 - 23:54
    +1

    IMO they are just racist.
    It is very sad to see that this kind of thing has happened in Australia which has never happened before in the past (30 years according to the real estate agent). This is just not a good sign for the country as a whole.

  • someeric on 03/09/2015 - 00:42
    +2

    I am an Australian with Chinese background.
    I believe these people are racist. You may say my opinion is biased because of my background, but IMHO it takes a buyer and a seller (probably I should add an agent and the Government 'gatekeeper') to complete a real estate transaction.

    It is just not logical to target Asian buyers if they are not racist.

    I call upon all who disagree to tell your agent not to show your property to anyone not white (Oh don't forget to check their passport too in case they are Americans or South African). Look forward to seeing you on news report.

    • [Deactivated] on 03/09/2015 - 13:46
      +1

      You're absolutely right.
      Poor government regulation and greedy AUSTRALIAN sellers have caused this.

  • fozzie on 03/09/2015 - 07:30
    +1

    @MelBourne my husband is Aussie who spent 17 years in the UK. I'm Italian and spent 18 years in Britain. We both never felt English and England gave us lots in terms of benefits (free dental for kids, cheap dental for us, free schooling etc) We weren't ungrateful, but just emigrating cannot make you feel the nationality of the new country.

    This group is racist full stop. They should complain to government of they don't like it.

  • fvalemus on 03/09/2015 - 07:39

    All whites are Australians, others are Asians. Asians are Chinese.

    • [Deactivated] on 03/09/2015 - 08:25
      +2

      That seems to be the logic, unfortunately…

  • MementoMori on 03/09/2015 - 09:38

    Slightly off topic but related. I find it strange people call Australia a 'racist country'. On a global scale we are not at all.

    See this infographic from a UN survey - https://www.washingtonpost.com/news/worldviews/wp/2013/05/15…

    Racism does exist here (as it does everywhere) however it's far more prevalent elsewhere. The Anglo-white countries (UK, US, Australia, Canada, etc) are the least racist in the world according to this survey. Foreigners can buy local real estate, businesses, have good working permit, partner and visa options. I've tried to do some of these things in several Asian countries - extremely difficult.

    • MementoMori on 03/09/2015 - 09:42
      -1

      And contrast this with the most multicultural countries - https://www.washingtonpost.com/news/worldviews/wp/2013/05/16…

      Based on this Australia (when compared globally) fares EXTREMELY well, the most ethically diverse AND the least racist.

    • fvalemus on 03/09/2015 - 09:47

      Not yet. Wait for 1 more generation. Australia is relatively a non-racist country, but it is changing.

      • MementoMori on 03/09/2015 - 11:44
        +1

        Within a generation I disagree, I believe it's the older generation that are more racist. We're all becoming so mixed I don't think they're will be any racism (or clearly defined races) in say 50 years.

        After that however, if the world does 'go to hell' and resources become more and more limited (and we have found no way to deal with this problem) then I'd say you're right, it will become more 'us vs them', more refugees (climate and economic based), etc.

        • [Deactivated] on 07/09/2015 - 12:33

          Less children, all around.

    • rolypoly on 03/09/2015 - 13:29
      +1

      I've never experienced any real racism living here. A little bit of fake racism during primary and high school but none in my adult life. I think Australia's great and I don't want it turning into the politically correct mess that America is.

  • Fuzor on 03/09/2015 - 12:59
    -3

    A bit of racism here and there is just our way of life, its what happens when you become a "multicultural" country. Its not just this generation but every generation. All of our elderly has these views as been ingrained into them through official policies like the white Australia policy.

    Foreigners need to know to adjust to our ways when they come here.

    • [Deactivated] on 03/09/2015 - 13:41
      +3

      "Foreigners need to know to adjust to our ways when they come here."
      You're joking, right? They should be condemned at every turn or leave the country. THis is not how modern Australia functions.

      FOreigners won't want to come here if its considered okay to act in that sort of manner. We need more foreign investment in Australia. These racist a-holes aren't helping.

    • fusion17 on 03/09/2015 - 13:53
      -3

      Yeah I hate when people nitpick small things as 'racism'.

      I know some of my chinese friends randomly refer to whites as dumb gweilos etc. (LOL right!), then you have the middle easterns with their own 'racism' 'you deserve it because youre aussie' etc.

      But apparently this only goes one way…

      It's just the way things are in such a multicultral nation. Sometimes its just easy to use race as an insult/retort. It comes to mind/mouth easily and it hurts the other person with little effort.
      Above mentioned Chinese friends would probably complain of the auction chants as being racist, but they do similar; its just not on a scale to come up in media etc.

      • sama on 03/09/2015 - 20:24
        +4

        Racism is not a 'small thing'. It's only small to you.

        Even you admit the Australian Chinese community have not organised anything substantially racist to the scale of mass media (or to the scale of Reclaim Australia). Even if they did, do they have any power to enact discriminatory laws and practices? Are there a bunch of Australian born Chinese politicians in parliament ready to change Australian laws to discriminate people of European decent? You say you hear Chinese people say 'dumb gweilo' but where are the bimonthly YouTube videos of Australian born Asian people ranting on buses and trains at 'gweilos' telling them to go back to England? It's absolutely not on the same scale.

        Prejudice is prejudice, no matter the race. But it's not a 'small thing' when you look like a minority. You can be separated and targeted by both people and laws. That's why racial discrimination is much more damaging for minorities. They have neither the social, cultural, or political numbers to defend themselves. Small racist movements can quickly blow up to large scale discrimination. It's not a 'small thing' to them.

        When you show so little empathy to those who are targeted, often just for no other reason than what they look like, I doubt you're really their 'friend'.

  • [Deactivated] on 03/09/2015 - 13:46
    +2

    So let me get this straight, greedy Australians are offering up their houses for record high prices, because they know foreign investors will buy them. These scum bag protesters are blaming the buyers who are paying a premium already, because they're too poor to afford a house.
    Blame government and those greedy Australians. Not the buyers.

  • Wokka Flappa on 03/09/2015 - 13:48
    -1

    You should be angry at the weak-as-water government (both parties) for letting this happen in the first place.
    Australia is now a suburb of China and is partly owned by the Chinese government.
    Please educate yourself OP.

    • [Deactivated] on 03/09/2015 - 14:52

      Educate myself? On what? Policies?

      All I see right now, is a group who I think have a racist agenda, for the reasons listed.

      That's all, don't assume any more or get ahead of yourself.

    • [Deactivated] on 03/09/2015 - 17:34
      +3

      "Australia is now a suburb of China"

      Lol… Sure, there's a lot of Chinese… But seriously, how can you believe that?

      Or maybe you can give some credible sources so that you can educate us?

      Btw I guess Australia is also a suburb of the UK, NZ and India lol.

      • Wokka Flappa on 03/09/2015 - 17:43
        -1

        China own at least 1% of Australia - that we know of.
        Alan Jones 2gb this week.

        If it's not on tv you can't understand it.

        • [Deactivated] on 03/09/2015 - 17:57
          +5

          How about a credible source, instead of a radio talk show…

          You know, actual stats with a link to a credible website? No one's going to believe you otherwise.

          (I don't vote, I'm not an Aussie. You probably shouldn't vote either if your opinion is based on a radio show host's ideas)

        • Wokka Flappa on 03/09/2015 - 18:01
          -3

          @inose:
          TALK BACK RADIO.

          Have you heard of it?
          You sound like you only watch the ABC and SBS to get your "news".

          And it is the most popular radio program on the radio.

          The Prime Minister was on the program this morning.

          Educate your ignorant self before making yourself look even more foolish.

        • [Deactivated] on 03/09/2015 - 18:10
          +7

          @Wokka Flappa:

          Mate, again, you're not providing any sources…

          I think you should learn to READ.

          Let me explain…

          Right now, your source of your opinion, is based on the opinions on a radio show. This makes your opinion not genuine, whether you like it or not.

          None of us are convinced with your source.

          (Btw on radio I've heard that them Japs are preparing a second invasion, I'd be worried if I lived by the sea. My source is talk back radio)

        • [Deactivated] on 03/09/2015 - 18:24
          +4

          @Wokka Flappa:

          Some people are a lost cause.

          ¯_(ツ)_/¯

          So do you have an opinion of your own?

          Edit: I've given up mate, adiós.

        • Wokka Flappa on 03/09/2015 - 18:31
          -6

          @inose:

          I rely on the objective opinions of people who are smarter and more across a subject than myself.

          Instead of posting some jibberish on a website for the bottom of the barrel types
          who want as much as they can for as little as possible.

          Do you even know what 2GB TALK BACK RADIO is?

        • zeomega on 04/09/2015 - 12:39
          +3

          @Wokka Flappa:

          "You jump I jump" mentality is a very scary one. What inose is trying to say is, use critical thinking and don't always take everything at face value.

          Everyone is biased and everyone has an agenda. In order to make an informed decision, you don't base it on opinions of others, esp of one whom you don't even know. Read some source materials like journals and published statistics. Whilst I will categorically say that these are most likely ALSO BIASED (stats can be manipulated, journals have a biased-ness to it most of the time), but it's better than listening to someone state a "fact" that they heard from a mate … who heard it from a friend… who was drunk at the point of time.

        • victorheaven on 04/09/2015 - 13:49
          +4

          Grow up dude, Alan Jones himself is racist towards Adam Goodes.

          His opinion is biased.

        • tonyjzx on 04/09/2015 - 16:45
          +1

          @victorheaven:

          Alan Jones is apparently smarter than Wokka Flappa.

          That's all you need to know.

  • KaTst3R on 03/09/2015 - 14:28
    +7

    While the marginal buyer could be a foreigner, dont forget a large part of the reason why property prices are so high is because the Aussie baby boomers are hoarding up all the supply in the market…Turn around your chair and ask your colleague how many properties his/her family owns…Good chance they will tell ya 2 or more…I even had one colleague telling me her family has 4 houses…(gawd dammit)…

  • onlyletters on 03/09/2015 - 14:43
    +2

    these people are anti-everything-thats-not-australian

    • abh_gup on 03/09/2015 - 20:58
      +2

      i often wonder… 'what is "Australian" really?'

      • onlyletters on 04/09/2015 - 07:59
        +3

        white, beer drinking, around the bbq sorta person, aussie slangs.

    • [Deactivated] on 03/09/2015 - 17:19
      +5

      Can't tell if serious, or just dumb…

      • Wokka Flappa on 03/09/2015 - 17:49
        -4

        And you can't logically explain yourself either…
        You cannot state any actual FACTS.

        • [Deactivated] on 03/09/2015 - 18:08
          +7

          I think my points are very clear, with credible sources - aus govt, domain, Wikipedia etc.

          …Thus, I've started this big discussion :D Front page mate.

          Now, where are YOUR facts? Or even sources… to support the shit coming out of your mouth

  • gringo on 03/09/2015 - 15:36
    +2

    I think these people are racist - but probably no more racist than our Asian neighbours are.

    I also think there is a lot of rorting going on - and let's not kid ourselves - there is a lot of capital fleeing China at the moment, which our falling dollar makes only worse.

    The real issue is that house prices are having devastating real effects on non-home owners in major Australian cities (particularly renters) - and this problem has been almost completely ignored by government. The answer is more social housing - but they'd never do that.

    • JimB on 04/09/2015 - 10:01

      While I think there is rorting going on, I think it's been overblown and really it's only in certain suburbs where it would be an issue.

      I recently purchased in an area where there is a lot of demand from Chinese people (it's a nice area), whether the money legitimately comes from Australia or illegitimately from China, I don't know. However, due to the fact I paid so much, I'm happy to see the prices go up, and when it comes time to sell, the fact it's popular with Chinese buyers I think it will survive a property down turn better than other suburbs in Melb.

      It's easy to criticise Chinese Buyers/Foreign investors, it's hard to say no to their money when you're a Vendor.

  • youbeokay on 03/09/2015 - 16:59

    My understanding is that for most of the new off-plan apartment, only 20% can be sold to foreigners, in some cases, only the local (including PR holder) are eligible to purchase. Foreigners are not eligible to purchase second hard real estate, for most of the auction, the property are preowned, therefore, people who are bidding on the auction are mostly Australian by law.

    • gringo on 03/09/2015 - 17:19

      Therefore nothing - there are all sorts of loopholes (e.g get PR thru significant investor programme - $5 mil and you get to keep the investment? peanuts for some - and you don't reflect in the stats).

      Article just on ABC TV (the business) about foreign money laundering and property. They can't even prevent things that are already clearly illegal - as regulatory bodies have been gutted.

      It is only not being looked into because of all the vested interests and money sloshing around.

      • youbeokay on 03/09/2015 - 21:14

        Where there's a will , there will be a way. Its highly unlikely that a government with comprehensive laws can prevent the loopholes.
        Things happened for a reason I believe, Australia might need foreign investment to sustain the economic growth and keep up with rest of the countries, and real estate seems to be good investment for investor, the probably this is what has happened in the past few years.

        As a matter of fact, Sydney has been experiencing housing shortage for many years already, the supply just would not sustain the demand, the end result is obvious- increase in price.

        • gringo on 04/09/2015 - 00:10

          These are tired arguments - but I think with China slowing, we will find out the reality of the situation soon. You can't build a prosperous country around real estate prices (or digging things out of the ground for that matter).

          I'd prefer we hadn't sold all our property to China's most corrupt looters in the interim however (who are only supposed to be able to take 50K USD out of their country per annum - ha!).

    • arescarti42 on 03/09/2015 - 17:35
      +2

      There used to be a limit of 50% maximum off the plan sales to foreign buyers, but this was removed by the Government in 2008. Developers are free to sell as many off the plan apartments as they want to foreign buyers.

      It is illegal for foreigners to buy existing/second hand real estate unless they are permanent residents (in which case they must sell it when they leave the country) or are redeveloping it.

      The problem is the Foreign Investment Review Board, which is responsible for enforcing the law, has no mechanism to do so, and has not prosecuted anyone for breaking the law since 2006.

      The only publicly available data on the level of foreign investment in housing comes from NAB's quarterly property survey, and by their figures, foreigners are responsible for around 10% of established property sales nation wide, and a much greater proportion in Sydney and Melbourne.

  • weeenis on 03/09/2015 - 17:17

    LOL this doesn't surprise…. if you cant afford buy a house go back to you own state … Tasmania.. or perhaps brisbane

  • [Deactivated] on 03/09/2015 - 17:21
    +2

    Omg front page what

  • altomic on 03/09/2015 - 17:38
    +3

    TL:DR

    Read title and thought of this Ernie Dingo classic

  • brongz on 03/09/2015 - 19:56

    i've seen this kind of thing happened in malaysia, indonesia, thailand, vietnam, cambodia, phillippine. then it happened as well since the last decade in usa. now it's coming to australia. hard to argue, but chinese is good with business, either lawfully or not. and they have the money now. who's to blame??

  • abh_gup on 03/09/2015 - 20:56

    We All are foreigners. Aboriginal lands this is. Prime Minister Abbott may not agree, but History says it is.
    Australia is still slave to another country till date, not really free;
    Unlike India, South Africa, UAE, Malaysia, etc that are truly independent now. Australia = deluded independence.
    Personal opinion, is that everyone should be welcome to Australia. Infact the first Europeans were all crims, as history says it…
    Any Chinese or whoever comes now to Australia would be better than those crims should be allowed to buy land and not be hated for it.

    • Happy Bergin on 04/09/2015 - 14:41
      -1

      If it wasn't for the aborigine then Australia wouldn't exist!
      Put ALL NON Aborigines in jail!

  • ebayer007 on 03/09/2015 - 22:01

    Allowing speculation in Real Estate is a very bad proposition. Hopefully we won’t have GFC similar to US. China’s economy has accelerated in last 10 years, resulting in instant millionaires – hence they are happy to pay 3 times more money to buy a house in Straya.
    Its not right just to blame overseas Chinese as there are many locals Asians investing in housing. Check this image , most of them look like ASIANS - http://www.domain.com.au/news/buyers-queue-to-live-in-green-…

  • ozeebee on 04/09/2015 - 06:37
    +5

    I'm willing to bet that after their protest, some of them went to eat at their local favourite Chinese restaurant.

    Bunch of hypocrites.

  • Gagosta on 04/09/2015 - 07:56
    +2

    Find it interesting that the stats in the article provided show that buyers from China $12bn are double than the next country on the list, the USA $6bn. So whilst , yes, they are not the only country purchasing in Australia, they have definitely become the more prolific over the last few years.

    I was staggered in my area in Oakleigh East, we purchased a property in mid 2012 for mid $500k, 3 bed 1 bath, on a main road (w service lane access :P) - had it appraised in the last couple of months by 2 agents. They stated I could start at $700k!

    The crazy thing is - I sell - then what? I would need another 200-300k AT LEAST to buy something a bit closer in/better/bigger or go at least 2 suburbs out past mulgrave…

    I am an asian/european - who has lived in asia for 10+ years and Australia for most of my life. Why do people want to come here? It is an amazing country, my parents both immigrated here and worked hard to carve out the little piece that they have.

    I understand the angst that people are feeling… people work hard, support the economy from within - and it seems that these overseas buyers come in with all their cash and buy everything up…

    Who knows what the bloody solution is…

  • 2Poor4Ozb on 04/09/2015 - 08:13
    +5

    There so much hatred in Australia, noticed from the past, the blacks, then the Asians, then the Indians, then the muslims, now the chinese and still muslims…… wonder what Australia next generations going to hate next??? soon there wont be any more ethnics groups to hate.

    • [Deactivated] on 04/09/2015 - 09:37
      +1

      We are (or will be) all Aussies, but divided, thanks to hospitable nature of some people (I'll call them racists) who want non-whites to integrate (and 'be Australian'), yet don't want these people in Australia.

      ("if you aren't born here, get out… If you're not white, get out. White Australia… Go home… etc.)

      Sure, there are other factors (e.g. people not wanting Islam in Australia out of fear of extremism or change in life, and so judging any Arab to be Muslim, and then consequently turning racist)…

      …But these racists are an Australian stumbling block to any migrant who want to integrate in society today (e.g. "i want to 'be Australian', but they hate and don't want us, I want to minimise contact with these people. I'm sticking with my own.." ).

      So basically racists aren't doing Australia any good, making life harder for all migrants/Australians.

      (We need better policies from our government to help us residents, but at the same time and again, race/ethnic based scapegoating/discrimination is slowing down progression in straya.)

      That's just my opinion based on experience.

      • JohnHowardsEyebrows on 04/09/2015 - 10:21
        -1

        Agree pretty much with this. We aren't particularly mature with race issues. Though the left also has to be more nuanced. What we identify as non-negotiable values of being Australian (democracy, transparency, freedom of press, freedom of religion, liberalism in general) must not be applied only to that which is ugly in Australian culture, but whatever culture we see. God help us if one day we end up in the situation Britain faces, where people are seriously pushing for sharia law.

    • weeenis on 04/09/2015 - 15:25
      +1

      don't forget the the Greeks when i was in high school my business teacher was greek and informed us of the high amount of racism towards Greeks throughout the 90s instead on terror raids the had centrelink fraud raids (seriously)

  • JohnHowardsEyebrows on 04/09/2015 - 10:16
    +1

    It's ugly no doubt. But is it surprising? A large swathe of the population has been shut out of the housing market by a dimwitted culture of property speculation. The tax laws won't be touched by the government (as most of them are too lazy to make real investments anyway), so that only leaves the one remaining thing holding up the market - foreign buyers - in the gun. The issue with the Chinese is not an inherently racist one, it's a simple fact that Australian property is seen as an outlet for the millionaire class in China, and certain suburbs (Doncaster, Glen Waverley, Chatswood, Toorak if they're very wealthy) are having way too much money tipped in by people with no financial pressures whatever, and most of these people happen to be Chinese.

    This group is turning it into a racial issue, but at its heart the issue is not. It's no more racist than being against Chinese state owned enterprises buying up strategic companies here.

    Of course, this is only a short term phenomenon, and these fly-by-nighters will abandon the ship pretty quickly when our market tanks.

    The only solutions to the affordability crisis long term are to fix the tax dodges, and make less NIMBY-centric planning laws, not to mention building proper city infrastructure around higher density living.

    • 2Poor4Ozb on 04/09/2015 - 15:51

      The thing is you cant blame the housing price going up due to Chinese buying up houses. Housing price been going up years before the Chinese got rich. Who did we blame before? Remember all the baby boomers? weren't they all happy when housing peaked and they earned hundred of thousands. Facts is, As long as everyone willing to pay for overpriced properties, it will keep going up regardless what country the buyers are from

      • JohnHowardsEyebrows on 04/09/2015 - 15:53

        Agree foreign buyers are not a critical factor in most property (some areas they are).
        People are willing to pay only because a) interest rates are low b) there hasn't been a recession in a long time (no fear of unemployment and c) people think prices will keep going up.

        Interest rates will remain low so long as economic activity is poor and money is being printed, but the other two factors will pretty quickly correct things when the time comes (and the time always comes in every bubble).

  • victorheaven on 04/09/2015 - 13:58
    +1

    I suggest you read some actual research data

    http://www.domain.com.au/news/foreign-buyers-account-for-1-p…

    • JohnHowardsEyebrows on 04/09/2015 - 14:05

      That doesn't preclude it being an issue. 2% of the overall market may not be much, but it's not across the board. It's concentrated in certain areas. Try telling a young person growing up in Glen Waverley that there's no issue with foreign buyers pumping up their property prices.

      • JohnHowardsEyebrows on 04/09/2015 - 16:34

        Why is this post offensive to some? Are people really so feeble of mind that a point can't be made about an issue being complex, even if it hurts their simple view of life?

    • Cobalt_ on 04/09/2015 - 15:36
      +1

      The research did not take into account the potential impact of illegal purchases by foreigners, which the Federal Government is presently investigating.

      Tragically hilarious, completely useless article.

      • victorheaven on 04/09/2015 - 16:19
        +2

        That is a good pick up, but unless you are confident that the amount of illegal purchases is high, you can't conclude that the findings are useless.

        And are you just gonna ignore the sentence below?

        "Yet he argued even this figure was “overstated” as the figures were approvals and not actual purchases."

        • Cobalt_ on 04/09/2015 - 17:24
          -1

          Firstly thanks for the neg vote. Secondly it has been confirmed that the FIRB and their management of foreign property purchases have been completely inadequate at best and criminally negligent at worst. Is it any wonder they just lost the role of monitoring foreign property purchases to the ATO. Any information compiled by the FIRB (based on their fantastic track record) should be taken with a pinch of salt.

        • Cobalt_ on 04/09/2015 - 20:22

          Here's a nice source for you, FIRB admitting they have been unable to enforce the laws that came under their jurisdiction:
          http://www.afr.com/news/politics/illegal-foreign-property-bu…

          Enjoy

    • gringo on 04/09/2015 - 19:43
      +3

      Really.. you should disregard anything posted on domain.com.au

      Likewise HIA "research"

      • Cobalt_ on 04/09/2015 - 20:04
        +1

        Vested interests? whats that?! -___-

  • Happy Bergin on 04/09/2015 - 14:37
    -2

    Everyone knows that those Australians are racist country in the world!!

  • Happy Bergin on 04/09/2015 - 15:20
    -3

    Those Australian gringos can't even afford homes in their own countries anymore…
    Typical Australians!

    • Mikinoz on 04/09/2015 - 15:38

      That doesnt make you sound racist at all

    • [Deactivated] on 04/09/2015 - 15:42
      +2

      I think you're trolling… Ie an Australian trying to make foreigners look bad.

      Also as a foreigner, probably doesn't own a home either.

      Gringo isn't a common term, yet alone one that an immigrant would know.

      Just my opinion.

      • Happy Bergin on 04/09/2015 - 15:44
        -1

        I want all Australians in jail and give money back to aborigine.

        • [Deactivated] on 04/09/2015 - 15:53
          +1

          Assuming that you're actually an aborigine (whatever), why should we give money "back"?

          Unless I'm wrong, Aborigines didn't have money before immigrants. They were a cluster of tribes, they weren't united.

      • victorheaven on 04/09/2015 - 16:24
        +2

        Spot on.

        Look at the upvote he gave to "Cobalt_"'s comment above, you would know which side he is on.

        • Cobalt_ on 04/09/2015 - 19:36
          -2

          I have no control over who up votes me and I have no agenda when it comes to this discussion where it appears you clearly do. Looks like you are part of the property spruick crowd I imagine.

      • [Deactivated] on 04/09/2015 - 16:35
        +1

        Oops… Should've said "bogan" rather than Australian, since foreigners can be Australians too.

    • 2Poor4Ozb on 04/09/2015 - 15:58

      don't think it their country in the first place, invading a country doesn't mean it yours rightfully. no Australians are not the most racist people in the world, that wrong to say. only a few, we have them from every part of the world. as for not affording homes it a lot of us not only Australian.

  • hamwhisperer on 04/09/2015 - 17:18
    +2

    People are unhappy that Chinese are snapping up property like crazy with China money taking chances from existing Aussies.
    They are unhappy this is occurring, I'm unhappy this is occurring.
    This does NOT mean they don't like Chinese, they don't like what the Chinese are doing.

    I'd be just as ticked off if the Finns, Russians, Spanish, Americans or anyone else did it.
    It's not about racism, it's about class warfare, people are buying their way into the Aussie pie. We do not have unlimited homes, we don't have unlimited places to rent or live, this is NOT good for the economy as the million dollar home they purchase makes ONE Aussie richer, that's it.

    Sorry, it's not about "the Chinese" it's about ANY foreigner being able to "buy their way in" THAT's the issue.

    • DeafMutePretender on 05/09/2015 - 02:09
      +2

      it's about class warfare

      This is the real issue people. People who have lots of money (or lots of money-generating assets AKA capital) yet still wants lot of money from people who don't. Everything else (racialism, sexism, sports etc) is just a distraction.

    • eatwell365 on 05/09/2015 - 04:42
      +1

      My rich uncle used to say "The longer people stay in Australia, the poorer they are."
      Living in Australia, high salaries will earn you only higher tax and do not change your family lifestyle unless money is being invested or miracle happens.

      Expat/Foreigners/People from overseas pay lower income tax and/or now have higher foreign currency advantage over "locals" to buy local properties. They are built surrounded by infrastructures (road, schools, hospitals) which are contributed by hard earned money from our tax. Luckily for the existing home owners/investors. what about the future of our kids who raise here? Would you choose to teach them love or money is everything? I know what I choose.

      My kids look Chinese, I grow up, live and pay tax as my follow Aussies. I do not have "crazy (windfall) money" from overseas. Is it really about the look and colour of our skin to determine who can afford a house? In many cities, there are no difference in race, there are only two different types of citizens - people who have house/s and people who don't.
      I agree with the others that it is a class" issue.

      Voice it to the government/s who currently only have one common language - not English, not Italian, not Chinese, but Money. There are countries which drive social economic difference in "classes" - only when gaps are huge, there are modern "slaves" to serve the rich. This was not the Australia in the past. But is this what Australian people want for the future?

      Watched a documentary on a study - put together a group of university students to play the monopoly board game. The only difference from the usual game is that few players start the game with most of the money and some with very little or none. It is clear that the ones start with little would have no chance of winning, Two interesting findings - 1. the ones have little money to start will still play the game hoping to win. 2. the ones with 'most' money does not feel empathy at all to the others, because they are "given"
      There is prediction WWIII will happen around 2025 because of greediness and global monetary meltdown. Let's hope this will not happen.

      Meanwhile, let's learn how to talk Australians as we speak.

      • abh_gup on 06/09/2015 - 17:48

        Lol. That channel was really stupid, but funny as.

  • Kyou mo Kawaii on 04/09/2015 - 17:30

    Properties in China are expensive and smaller than what you can get here, air is polluted and living standards are just poor. Hence, they choose to invest/move to other countries such as Tokyo, Sydney etc.

    A little story:

    Just recently, there were 2 blocks of apartments being sold, with 1 block planned to be sold at a later date at Wentworth Point; 1 room being 700k+, 2-3 rooms 1mil+. 90% of these buyers were black haired and many of them had no idea that they needed to pay a fee beforehand to "register your interest". The 2 blocks sold out in about 3 hours and the remaining people that couldn't buy were pissed, so the developers released the 3rd block for sale and also jacked up the price (note there were no floor plans for any rooms at this point). Needless to say people would still blindly put down their deposit without knowing anything about the property and that sold out pretty quick too.
    A few weeks later hearing back from an agent, some people just gave up on their deposit on the 3rd block after looking at the floor plans released the week after.

    But yeah, these past few months a lot of Chinese families have moved in my area. Property prices here have increased at least 50% since the announcement of a train station being built and from good school network.

  • X3 on 05/09/2015 - 01:23

    Look at all the posts and obviously its a highly contentious issue, so much anecdotal evidence one way or another. Which is understandable because truly reliable data is literally pretty much non existent.

    Unfortunately the moment anyone even dares to wonder out loud about any one particular race (be it chinese, indian, american, canadian whatever) that may be having an undue influence on the Sydney (and Melbourne) property market - they're immediately classified as racist simply because its not PC to wonder out loud abt such matters.

    The group that disrupted the auction really did do everyone a disservice because it just added fuel to the "racist" argument.

    One article proved to be most enlightening to me. Seriously, read it :

    http://www.afr.com/real-estate/foreign-investor-crackdown-a-…

    The statements by a prominent REA as well as Buyers Agent - two ppl from occupations that are neck deep in this property market debacle and see alot of things first hand.

    Majority of ppl justifiably hate REAs but these particular guys are saying things that are of no benefit to them - which is, ironically, why its believable.

  • nevbuster on 05/09/2015 - 07:28

    I just sold my investment property to a Chinese buyer for a shitload profit. No complaints here. Maybe I'll buy it back later when China crashes like Japan did in the 90's. If they want to pay stupid prices for ordinary property, let them.

    • eatwell365 on 05/09/2015 - 08:58

      You are correct. Exactly and this is exactly what the government and developer think.

      Auction for one bedroom one bathroom apartment above train station, price ends up over $920K.
      Do you think an ordinary worker in Australia who earn $100K a year or less would buy this?.
      It would be more likely "foreign buyer from China/overseas" who will pay such amount,

      Do want to know what the best headline on front page news if people should protest?
      "Shitload of cash floating in Our Harbour."
      "Government allows too much foreign ownership on Aussie soil."

    • Happy Bergin on 05/09/2015 - 12:34
      +3

      There's over a billion chinese.
      When 5% of them have bought a home here (50 million)
      Australians will be forced to live in bush.

      • eatwell365 on 05/09/2015 - 14:18
        -1

        Agreed with the "what if"- no country will be sustainable with that amount of influx of people, whether it is from UK, US, Africa, Europe and Asia. How likely 50 million people will be able to come? How sensible it is to make hypothetical question that creates fear when things won't happen. 50 million migration has never happened in the history of mankind. The same can say if everyone of them take $5 million each here x 50 million. Australia will be a very rich country.

        "For those who've come across the seas
        We've boundless plains to share;
        With courage let us all combine
        To Advance Australia Fair."
        What do we teach our kids?

        For the people who stay and build, please stay. For the ones who come and take advantage, please stay away - and this is the responsibility of our Government.

        • X3 on 05/09/2015 - 15:37
          -1

          "and this is the responsibility of our Government"

          Nope. Responsibility of the Government is to serve themselves. At the expense of the population.

          Federel politicians own 541 properties, conservatively valued at 350M (on ya Abbott and Hockey!). Both figures will be higher now presumably.

          And the article hasnt even gone in State level politicians. Advance Australia Fair hey?

          http://www.smh.com.au/federal-politics/political-news/how-pr…

      • [Deactivated] on 06/09/2015 - 09:06
        -2

        Lets really hope USA and its allies defeat china in WW3.

        • Happy Bergin on 06/09/2015 - 15:23

          Lol.. You got the best jokes Jon:)

    • gringo on 05/09/2015 - 18:32
      -1

      If I was exiting China with a big wad of cash at the moment I would never return. This is very different from the Japan boom.

  • frostman on 05/09/2015 - 15:15
    +3

    So guys in NSW who are saying only 1% of Chinese own here, please tell me who the majority of the ethnic background comprises of from these suburbs

    • Chatswood
    • Ashfield
    • Campsie
    • Hurstville
    • Penshurst
    • South Bankstown
    • South Sydney / aka China Town & Ultimo

    A massive Asian concentration…not an issue from a numbers point of view & not being racist, but the concentration of suburbs forces other non-Asians to not buy/shop or walk there as markets and stores cater to the locals.

    • [Deactivated] on 05/09/2015 - 21:40

      "…not being racist, but the concentration of suburbs forces other non-Asians to not buy/shop or walk there as markets and stores cater to the locals."

      It's rather unfortunate that you hold this view, especially in our mulicultural society. You're making it sound like it's some Apartheid / Nazi discrimination thing. It's obviously not, and so your attitude is sickening.

      No one's forcing anyone to 'not buy/shop or walk there'. Anyone is free to do whatever they want; you can walk or shop anywhere; this is Australia. Have you ever seen a "Chinese only" shop in Australia?

      Bars are usually full of Caucasians. Are they "Whites only"? Of course, no. Neither is Bondi Beach. Likewise, Chatswood, Ashfield… and even Chinatown, are not Chinese only. (There would be a media field day if they were.)

      (Also let me add that you're lumping Asians as one big group; this is ignorant and wrong. Koreans in particular, and maybe some Japanese, and many other 'Asians' can't read Chinese; they feel as 'outsiders' in places with many CHinese shops; they're not all the same. The 'Asians' vs 'Whites' view is very narrow minded and naive.)

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