Seven Network director Bruce McWilliam's A$33 million mansion was sold to a mainland Chinese buyer with substantial business interests in Australia and was the third-highest sale in Sydney, The Sydney Morning Herald reports (27 April 2013). Data from Juwai.com shows a 61% increase in property searches for Australian residential property since last December. Juwai.com chief executive credits the Australian government's new Significant Investor Visa and the impending convertible currency deal for making Australia the "preferred property destination" for Chinese investors. Real estate agents also cite the Chinese government's property curbs as the motivation for cashed-up buyers to look to foreign property markets. Proximity to highly-ranked schools is perceived as the main draw for many Chinese business people buying in Australia as well, hence the popularity of suburbs such as Chatswood, St Ives and Killara. The number of Chinese-born people living in Australia increased 54.4% between 2006 and 2011, according to the Australian Bureau of Statistics.
