Chinese demand for a home in Australia as strong as ever

Surging Chinese demand for Australian homes is dwarfing efforts to root out illegal buyers as the government struggles to avert a backlash against unaffordable housing.

Since announcing a crackdown on unlawful home purchases in February, the government has forced only one foreigner to sell. Chinese already buy almost a quarter of new homes in Sydney and their outlay will more than double to $60 billion in the six years to 2020, according to Credit Suisse Group.

Bloomberg