{"id":17177,"date":"2019-02-26T12:35:14","date_gmt":"2019-02-25T23:35:14","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=17177"},"modified":"2019-02-26T12:37:51","modified_gmt":"2019-02-25T23:37:51","slug":"property-bust-rattles-australias-surging-economy","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/property-bust-rattles-australias-surging-economy\/","title":{"rendered":"Property bust rattles Australia’s surging economy"},"content":{"rendered":"

 <\/p>\n

PHOTO:\u00a0Prices in the Epping area have already fallen more than a fifth from their peak in August 2017, according to data from Corelogic, the steepest falls in Sydney.\u00a0PHOTO: REUTERS<\/strong><\/p>\n

AS PROPERTY prices rocketed toward the heady peak of Sydney’s real-estate boom in 2017, the bulldozers came to Epping. Eucalyptus-lined streets of red-brick bungalows in the middle-class suburb were snapped up at hefty premiums by developers, razed, and quickly remade as apartment blocks.<\/p>\n

Many units were sold off-the-plan — where buyers enter into contracts and pay deposits before construction starts – to Chinese investors drawn by the location’s reputation as a Chinese community hub and its highly-regarded schools.<\/p>\n

But prices are now in freefall, and the suburb is being refashioned once more, this time into the epicentre of a bust.<\/p>\n

READ MORE VIA BUSINESS TIMES<\/a><\/p>\n

 <\/p>\n

https:\/\/www.instagram.com\/p\/BtZjpEuFZ2c\/<\/p>\n","protected":false},"excerpt":{"rendered":"

  PHOTO:\u00a0Prices in the Epping area have already fallen moreRead More →<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478098521,478099700,478098892,478098519,478098535,478098513,478099125,478098579,478098510,478098514,478098511,478098705,478098533,478098509,478098536,478098618],"class_list":["entry","author-data123nz","post-17177","post","type-post","status-publish","format-standard","category-australian-property-real-estate-news","tag-australia","tag-australians","tag-chinese-investors","tag-corelogic","tag-home-ownership","tag-house-prices","tag-property","tag-property-crash","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-sydney","tag-sydney-property"],"yoast_head":"\nProperty bust rattles Australia's surging economy - 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