Langstaff Gateway Condos location. House prices in Canada have fallen for six...

Langstaff Gateway Condos location. House prices in Canada have fallen for six months in a row? House prices in Australia continue to fall. According to housing price data released by the Australian Bureau of Statistics, overall house prices in Australia have fallen by 5.1% in the past year.Please Visit:Langstaff Gateway Condos location to Get Your VVIP Registration Today!

Sydney, Australia’s most prosperous property market, fell by 13.2%. Australian house prices have fallen since mid-2017, the biggest drop since the global financial crisis a decade ago. House prices in eight state capitals fell 0.5% month-on-month in April and 8.4% from a year earlier, according to data released by Corelogic on Wednesday.

On the one hand, this shows that Australia has introduced a strict mortgage policy in recent years, raising tax rates and other regulatory measures have played a role, on the other hand, falling real estate prices have had an impact on the economy, real estate employment opportunities are decreasing, and the Reserve Bank of Australia is planning to cut interest rates.

It is not a unique instance, but has its counterpart. There is also news that Canadian house prices have fallen for six months in a row. Recently, the National Bank of Canada released an index showing that house prices in Canada fell 0.3% month-on-month in March this year, the sixth consecutive month of decline. Data released earlier by the Canadian Real Estate Association (CREA) showed that Canadian home sales fell 9.1% in February from the previous month, the lowest since November 2012. Analysts predict that house prices in Canada will continue to fall and will not improve. Because what the Chinese tuhao are considering now is to sell and cash out as soon as possible, not to copy the bottom, but they cannot sell it. Recently, an intermediary agency received advice from a number of wealthy Chinese to sell their Canadian villas, which is 3-4 times higher than in 2017, but the problem is that even if they sell at a 10% discount, they may not be able to find Chinese compatriots to take the offer.

Whether in Australia or Canada, the surge in house prices is fuelled by Chinese tycoons and speculators. I didn’t believe it in the past, but I believe it now. A series of policies issued by both Australia and Canada to control house prices are aimed at overseas demand, and the biggest overseas demand is Chinese local tycoons and property speculators.

Now, Canadian house prices have fallen for six months in a row, and Chinese investors are reluctant to copy the bottom of the property market, mainly for two reasons: first, the tax levied by developed countries on overseas buyers is getting heavier and heavier, which deters more and more Chinese high-net-worth people; second, Canada has tightened its mortgage policy since last year, which has also increased the financial cost for Chinese high-net-worth people to buy overseas houses.

In analyzing the reasons for the continued decline in house prices in Australia and Canada, the first is that regulatory policies have played a role, and the second is that “many high net worth people in China have become extraordinarily rational.” As soon as China’s high net worth people are “extraordinarily rational”, house prices in the two countries fall. It also reflects that the rise in house prices in Australia and Canada is irrational for Chinese speculators and local tycoons.

Another deeper reason is that with the decline of the popularity of studying abroad in China and the vigorous development of the mobile Internet in China, urban high-rise buildings have been no less than any country, coupled with the high efficiency and convenience brought by the Internet. It has attracted students from developed countries to study in China, and many students have returned to China.

While students returning from Canada, Australia, New Zealand and Europe marvel at the convenience of life in China, many do not know how to use mobile Internet tools.

As a result, the attractiveness of China’s development has also affected the Australian and Canadian real estate markets. One phenomenon is the recent increase in the number of contacts with immigration business through various online means, which also reflects the coldness of overseas immigration business. Australia, Canada and New Zealand are hot places for Chinese immigrants. If the hot land cools down, the real estate market and house prices will certainly be affected.

Canada and Australia have introduced measures to regulate and control external demand, but they must be placed in the context of countries around the world to analyze the trend of house prices. Since the changes in house prices in Canada and Australia have a lot to do with Chinese tycoons and speculative tenants, they have a greater impact on China’s domestic development and changes.

If China has a beautiful environment, a great improvement in environmental protection, a relaxed atmosphere for starting a business and a soft and hard environment, and a higher level of education, it is better to stay at home than to go to any country, then fewer students and personnel will emigrate to Canada and Australia, house prices in these two countries will naturally fall, and capital outflows will be curbed.

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