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  • 29 May 2015

Chinese Buyers Welcomed By Sellers and Builders

There's no getting away from the fact that the Chinese LOVE Australia - and that extends to buying property here. Lots of it!

According to a Credit Suisse report, the Chinese could pump as much as $60 million into Australian housing over the next six years, with much of that going into new housing.

Up to 2020, the report suggests the Chinese will spend on housing double the amount they spent in the last six years.

China is now Australia's biggest source of approved foreign investment.

But it's not Australia-wide, with most purchases in Sydney or Melbourne.

The increase is not only good news for those selling, but for those involved in the building industry, from trades-people to building material suppliers.

Approvals of new houses and apartments hit a record level in March, pushed higher by a jump in Queensland apartment approvals. In the year to March, more than 210,000 houses and apartments had been approved nationally.