The Sydney Morning Herald – 29 May, 2015
By James Laurenceson
Sydneysiders have good reason to be upset by sky-rocketing house prices. The Australian Bureau of Statistics says that the cost of entering an already expensive market has jumped a further 30 per cent since the end of 2012.
Blame the Chinese. That’s what a protest planned for this Saturday outside the Chinese Consulate in Camperdown intends on doing.
There’s a trend here. It was only a couple months ago that State Opposition leader Luke Foley decided to play the China card in an attempt to derail Premier Mike Baird’s electricity privatisation plans.
A report by Credit Suisse earlier this month appeared to provide some hard evidence that Chinese buyers were rampant. They said that in 2013-14 Chinese buyers snapped up property worth 23 per cent of new housing supply in NSW.
But there’s something amiss here.