Home away from home Down Under

Buyers from the Chinese mainland acquire Australian property for the education of their children and a better environment, reports Bloomberg

Ausin Group (Finance) Pty, which offers property and mortgage broking in Australia to Chinese buyers, expects to sell two-thirds more homes and to double the amount of loans it arranges as demand from the Chinese mainland surges.

The company forecasts A$1.5 billion ($1.4 billion) in sales of new residential properties in the year ending June 30, compared with A$900 million over the previous 12 months, Sydney-based Managing Director Joseph Zaja said in an interview on Tuesday. The value of mortgages the closely held company arranges through Australian banks is expected to climb to A$500 million in the 2015 calendar year, he said.