A report from the South China Morning Post. "Shares of Country Garden, mainland China’s largest developer by sales, slumped to a 14 month low on Monday, after video circulated on social media showing protesters mobbing at least one sales centre during the weeklong national holiday. Scores of protesters, some seen holding Chinese-language placards that read 'return my hard-earned money,' others throwing rocks, mobbed a sales office for Xinzhou Mansion, a Country Garden residential project in Shangrao, Jiangxi."

"A decision by the developer to cut prices by up to 30 per cent sparked a wave of anger among buyers who’d paid full price. A similar incident took place in Shanghai, where Country Garden slashed prices at its residential project One Mansion by as much as 25 per cent."

"Developers large and small are feeling downbeat amid signs the real estate market is starting to soften after a long period of growth. 'Current discounts within 10 per cent are more like a market gimmick,' said Raymond Cheng, head of Hong Kong and China research at CGS-CIMB Securities. 'If the October data shows a sharp drop, we will see a real price drop, higher than 10 per cent.'"

The West Australian. "The banking regulator has been accused of delaying WA’s economic recovery amid claims its policies are making Perth homeowners financial prisoners in their homes. WA Liberal senator Dean Smith said the Australian Prudential Regulation Authority and the major banks were effectively putting the State in a 'credit squeeze' that could hold back its economy for years."

"APRA has, with the support of the Federal Government, tightened lending standards over the past 12 months in a bid to cool investor activity in the Sydney, Melbourne and Brisbane property markets. The financial sector royal commission has signalled that banks needed to better assess the ability of their customers to repay loans."

"It has also raised concerns about APRA and the way it has policed the sector. Senator Smith said the collective value of Perth homes had tumbled $20 billion over the past four years, while measures of bankruptcy and financial vulnerability had all increased across the State."

"People who bought during the boom years were now living in homes worth less than what they paid."

"'APRA’s lending rules might have helped those on the east coast bring down their housing prices, but they are substantially delaying the economic recovery in our State,' Senator Smith said. 'WA families are effectively becoming prisoners, shackled to their own home loans. The actions of APRA are akin to putting Roundup on the green shoots of the WA economy.'"