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Australia's overheating housing market prompting policy responses

Chinese investment in property has jumped eightfold in five years

SYDNEY -- Housing prices in Australia have roared into the stratosphere, prompting the government to take policy steps to cool the sizzling market.

Combined with tight inventory of houses on the market due to population growth, swelling investment in the sector has been driving up house prices. In particular, Chinese investment in Australian real estate has soared eightfold in the past five years.

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