Australia housing bubble

[DTFRMONT]

Originally Posted by Citroënbender

There’s a mass of (re)development around me, most driven by foreign agents - developers and buyers. It’s totally at odds with other overt indicators of a massive slowdown. I do wonder if there’s people punting on an authoritarian crackdown in HK and resultant PR here for large numbers of wealthy ex-residents; shadows of Tiananmen...

Absolutly going gangbusters in my area of Melbourne (outer east) ATM. Things are getting silly, with normal 4-bedders exceeding $1mill at auction, Was at an auction in Wantirna a couple of weeks back. Unrenovated early 70's cream brick not in the 'desirable' area. Still made around $875K with 5 bidders.

With the goings on in HK, I'd say there'd be quite a few Hong Kongers & expats looking into activating 'plan B' while they can. Remember that there are around 100K Australians living in HK, with thousands more holding PR.