‘Highrise Harry’ Triguboff’s mouthpiece, Robert Gottliebsen, claims Chinese buyers are returning to Australia’s apartment market in what he describes as a good sign for both the international student industry and the broader economy. At the same time, Gottiboff claims that Australians are struggling to buy property, and this is being made worse by governments, councils and planning bodies imposing harsh regulations on developers that push up the cost of construction:
It’s a dramatic and surprising turnaround. While the buying is being executed by locals, they have close links to those on the Chinese mainland…
Melbourne attracted many buyers and Meriton CEO Harry Triguboff says that there has been strong Chinese buying of apartments in both Sydney and Brisbane over the last month…
But the return of Chinese property buyers is an encouraging sign for the long-term university outlook because property buying is normally linked to student flows…
But there is also an Australian downside to what is happening in housing and universities… Many have left the market and returned to their parents’ homes… And, of course, the overall rental market is being pushed down by the lack of tourists to rent Airbnb properties…
State governments, planning bodies and local councils need to start considering the cost of the burden they are placing on ordinary Australians by adopting practices and rules that boost costs.
Gotti is talking Highrise Harry’s book as usual.
Deregulation of the building industry is behind the proliferation of ugly high-rise dog box apartments across our capital cities, which have been riddled with faults and flammable cladding. Cutting ‘red tape’ even further would only lower construction standards, resulting in even worse build quality.
Besides, both the NSW and Victorian Governments have already handed the reins to developers, with both jurisdictions announcing that they will relax planning rules and ‘red tape’ to spur development.
The definition of insanity is doing the same thing over and over again and expecting different results.
Population and housing led growth is the epitome of dumb growth.
Rent-seekers like Highrise Harry win, while the rest of us have our amenity trashed.
