According to Realestate.com.au, this year Kellyville, was the most popular place for China buyers to buy land and then build a house. According to REA Group, IP addresses from China are the ones searching the most in Australia to buy land and build housing. The region is exactly like Kellyville, NSW. In second and third place were Marsden Park and Box Hill, both located in the North West region of NSW.
Nerida Conisbee, Chief Economist at REA Group, said that she's not surprised that Kellyville is so popular. "Chinese buyers prefer places that are close to shopping malls and Kellyville is close to Castle Towers, which is about to expand into the second-largest shopping centre in Australia," she said.
Sue Tam, Director of LJ Hooker Kellyville, attributed the high demand in China to the rapid local development and community culture. "It's a great community atmosphere for families," she said. "Due to the overdevelopment of The Hills area in recent years, Chinese buyers don't have many more options. Kellyville, on the other hand, is one of the few quality options available.
"With all the restrictions imposed by the Australian government on offshore buyers, Conisbee has found that Chinese investors have a variety of ways to invest and have high requirements not only for the type of home but also the location of the home.
She said, "The investment objective of many Chinese buyers is to be more sophisticated and the location of the property is a top priority. While Melbourne and Sydney are generally the two most popular locations for investment, other cities are now slowly attracting overseas buyers such as Brisbane, Perth and Adelaide among others."
Conisbee also suggested that today's Chinese investors are very different from the earliest batch, saying: "The first Chinese buyers only buy expensive properties, but more and more Chinese buyers are now opting for cheaper and more affordable properties. Investors who are now buying land and building houses are slowly having more precise targets and no longer deciding their investments based on the price."
Australia's most sought-after areas for Chinese buyers to buy land to build a house:
2. Marsden Park
3. Box Hill
4. Jordan Springs
6. Gregory Hills
8. The Ponds
9. Edmondson Park