Chinese interest in Australia's residential property market continued to weaken in 2018, mirroring trends seen in approvals granted by Australia's Foreign Investment Review Board in prior years. According to data from Juwai.com, a major Chinese international property porthole, inquiries to buy Australian property from mainland China dropped 20% last year compared to the levels seen in 2017, primarily reflecting reduced interest in the early parts of the year. However, the group notes there was a sudden surge in inquiries in the final quarter of the year, jumping 58.1% compared to the same period a year earlier, hinting that recent declines in Australian dollar relative to the Chinese yuan, along with falling home prices in many of Australia's largest capital city markets, may have spurred renewed buying interest, reports Business Insider Australia (22 January 2019).
