Multibillion-dollar housing demand from Chinese buyers could be another casualty of a diplomatic spat between the two countries. reports The Age (19 June 2020). Data published by international property portal Juwai IQI shows enquiries slumped by more than 65 per cent in May compared with April. May's sharp decline coincided with a move by Canberra to push for an investigation into the origins of the novel coronavirus, first detected in China late last year. Beijing responded with threats of economic reprisals. Mainland China has been a major source of foreign real estate investment, with investors pouring $6.1 billion into residential and commercial construction and home auctions in the last financial year alone. "If the situation doesn't escalate further things will stabilise," said Juwai IQI executive chairman Georg Chmiel. "So long as it isn't prolonged, as long as it isn't systemic."