Balwyn North’s hot property: New data shows it’s the top choice for foreign investors
Balwyn North has been identified as the hottest postcode for Chinese buyers with a staggering 87 per cent price growth in the past 3 years.
Domain journalist Emily Power told Ross and John it ticks all the boxes for foreign investors.
‘We’ve got got Domain statistics which confirm what we’ve already known and that is, Balwyn North for offshore Chinese buyers is a hot zone,’ she said.
‘We’ve seen an 87 per cent price growth over three years which puts that postcode as the strongest Chinese market in Australia.
‘That’s driven by a couple of things, one is an excellent school, Balwyn High.’
Ross: I’ll give you another factoid from the Rumour File about a Chinese woman who bought a house in Balwyn last week for $4.6 million and her daughter said to the agent ‘Mum wants to know how many bedrooms it has’.
Listen: Domain journalist Emily Power on 3AW Breakfast