A RETREAT of Chinese developers from Australia could make it even tougher for buyers to break into the pricey Melbourne and Sydney real estate markets.
Realestate.com.au chief economist Nerida Conisbee said there would be less development because of the Chinese Government announcement that it will restrict foreign investments and property prices could continue to rise as a result.
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Nerida Conisbee, Realestate.com.au chief economist, says the Chinese government’s restrictions on foreign investments will make it harder for buyers wanting to get into the property market. Picture: SuppliedSource:Supplied