By SJA Jafri + Bureau Report
This followed a 47 per cent fall in 2019 and is the lowest number recorded over the past six years.
The ANU Chinese Investment in Australia Database (CHIIA) recorded just over $1 billion of investment in 2020, down from $2.6 billion the year before and well short of the peak of $16.5 billion recorded in 2016.
Meanwhile, Australia’s property prices are rising at the fastest rate in 17 years as historically low interest rates and restricted supply spur buyers into action.
Over the past 30 days property prices have risen in every capital city and region of the country, signalling a sustained period of growth not seen since the end of the Global Financial Crisis.
“Spurred on by a combination of record low mortgage rates, improving economic conditions, government incentives and low advertised supply levels, Australia’s housing market is in the midst of a broad-based boom,” CoreLogic notes in its release.
“Housing values are rising across each of the capital city and rest of state regions, demonstrating the diverse nature of this housing upswing.”
Sydney and Melbourne led the charge, rising 2.5 per cent and 2.1 per cent respectively.