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Back to boom time as Chinese fight over A$5m Vaucluse dream home

By Juwai, 25 February 2013
SydneyMorningHerald.jpeg

Despite a surge in property being sold in its housing market, Sydney has seen a boom in the number of houses being sold.

The number of houses being sold on a week-to-week basis have been showing strong signs of contiunal increase as Chinese interest in Sydney property continues to grow.

This past weekend a Vaculuse home sold for A$5.15 million, over A$500,000 more than the expected selling price of A$4.5 million. Realtors involved in selling the home attributed the high price to the fact that 6 Chinese buyers had been competing against one another for the home.

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Tags: australia, sydney