"Sell up now before Balwyn North turns into a Chinese ghetto," encouraged a real estate agent, "The only buyers are the Chinese."
This seems to be a sentiment similar to Glen Waverley, where a few white families told me that they are selling up and avoiding buying in the Chinese suburbs. Unless, they're developers or speculators.
On the other hand, Asians are flocking to the so-called 'Chinese suburbs' to cash in on the hype and demand. It's no secret that the good schools are the main draw cards.
It is imperative to observe the demographic changes in each suburb over the years, and what prices properties are fetching.
At this auction on Gildan Street, Balwyn North where a site adjacent to a reserve was auctioned by Kay & Burton's Scott Patterson, a power couple introduced themselves to me.
"Erick, I heard about you from XXX. I like to be able to offer assistance and insights to buyers, a role like yourself. Many buyers are uneducated and could have done better with the money they have paid. Can we organised a catch up sometime?" a former director of the big four banks suggested.