In the 19th century, the Chinese had a gold rush in Australia, and the gold rush has long since gone, and buying real estate in Australia has become a new investment hotspot. Although the Australian authorities have tightened the policy on home purchases for non-domestic buyers, the actual data still do not deter Chinese buyers in Australia.

According to credit suisse, overseas buyers account for a quarter of new south wales's new housing market, most of them from China. The housing market in Victoria and Queensland accounts for 17 per cent and 8 per cent of foreign buyers, almost all of them Chinese.

Australia's second choice to buy a home after the United States is to attract buyers: first, Australia's property is a permanent property; Second, there is no inheritance tax.

Prices in Australia and Sydney rose an average of $1.28 million per quarter last year, according to the Australian finance ministry. In new south wales alone, demand for home purchases has hovered around $1.5 billion a quarter, according to credit suisse.

In recent years, the Australian government has gradually tightened bank policy and immigration policies, and policies on home loans to overseas people have become more stringent. Since July 1, 2017, the state of Victoria has cut stamp duty on property investors and imposed a 7 per cent stamp duty on foreign buyers, more than double the amount from last year. New south wales imposes an additional 8% stamp duty on foreign buyers. A 3 per cent stamp duty is imposed on Queensland.

At the same time, the Chinese government has stepped up supervision of foreign investment and capital exit. But credit suisse said the restrictions and measures did not have a strong impact on domestic buyers, with limited practical impact.