A new report foresees a surge in Chinese demand for Australia's residential real estate, which is set to push prices even higher in one of the world's least affordable property markets.

A new report from Credit Suisse says Chinese appetite for Australian property will soar in tandem with the country’s rapidly growing affluence. The report notes that investment demand from China has already had a major impact upon Australia’s urban housing market. China currently accounts for in excess of $5 billion…