China correction would have negative effect on Australia property
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The action in the long running Australian property boom has shifted to outer suburban land. And at the same time we need to watch closely what is happening in China because there is a potential convergence of events in China and Australia.
This week I was yarning to one of Australia’s top five home builders and he just shook his head as he told me: “Land prices in outer suburbs of Sydney and Melbourne are rising to unsustainable levels”. Because he has large land holdings in both cities he is making a fortune on paper but he knows what is ahead and he spoke with emotion.
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Source : China correction would have negative effect on Australia property