They just keep coming.
The first shock was an unlooked for and thoroughly welcome closure of the Chinese capital account which smashed the number of foreign buyers:
It’s only likely to intensify as China fights the trade war.
Multiple exogenous shocks are pounding Aussie property
David Llewellyn-Smith
Wednesday 22 August 2018
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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