Australian homebuyers are being bypassed as sellers look directly to offshore buyers to sell their properties, according to The Australian, with more than 100 real estate firms in China now exclusively selling Australian real estate.
Andrew Taylor, the head of China-based online property marketing site juwai.com, said the practice of only promoting Australian properties to overseas buyers started a number of years ago.
“There are vendors who don’t really want to put their home on the market but have a magic number that they would be willing to sell at (who) often put their homes online without listing them in Australia,” he told The Australian.
“That way they have exposure to the Chinese buyer without having to put up a sign board and do open-for-inspections.”