Australian property prices hit by plunging Chinese investment

A row of newly built apartment blocks is seen in the suburb of Epping, Sydney, Australia.
A row of newly built apartment blocks is seen in the suburb of Epping, Sydney, Australia.PHOTO: REUTERS

In the Sydney suburb of Penshurst, which had the Australian city's sharpest house price declines last year, real estate agent George Antipas has little doubt about the cause: a sudden lack of Chinese buyers.

"The Chinese created the market here - and now they have retracted," he told The Straits Times.

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A version of this article appeared in the print edition of The Straits Times on March 04, 2019, with the headline 'Australian property prices hit by plunging Chinese investment'. Subscribe