Wealthy Chinese property hunters spent a total of $22.6 billion on Australian property over the past 7 years, and many first-time buyers and middle-class locals are feeling the heat in the booming housing market in Australia, says The New York Times (25 April 2014). Housing prices increased by nearly 10% last year in Australian major cities, turning Australia into one of the priciest property markets globally with a median sale price of over $1 million in popular suburbs, such as in Sydney. Australian government are set to review the impact by foreign homebuyers on the recent housing inflation – many who have a marked preference for location with iconic vistas like the Sydney Opera House. According to Juwai.com Co-CEO, Simon Henry, ‘‘If Chinese buyers aren’t pushing prices up, they have without doubt kept them from falling.’’ He also added that Chinese investors are not centralised on merely major cities, but are increasingly looking at university towns, such as Newcastle and Cairns.