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Thread: Australia to investigate foreign ownership of homes - BBC

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    Gav
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    Australia to investigate foreign ownership of homes - BBC

    Just saw this on the BBC website
    Australia to investigate foreign ownership of homes

    http://www.bbc.co.uk/news/business-26607265

    Australia to investigate foreign ownership of homes


    Australia has some of the most expensive property markets globally, with Sydney being one of the most popular destinations for Chinese investors

    A government committee in Australia is set to examine laws governing foreign investment of property.
    The move follows a report by Credit Suisse which showed Chinese buyers are pouring in more than A$5bn ($4.5bn; 2.7bn) into Australia's residential market every year, pushing up prices.
    The investigation will examine whether foreign purchasing policies are pricing Australians out of the market.
    Australia has some of the most expensive property markets globally.



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    Gav
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    I do find it amazing the cost of houses in Oz, the small population to area size and the amount of land that could be built on, sadly most of the land - Sydney and Melbourne seems to be built on great areas that could be used for farming. Wonder if it'll be a repeat of the 70s Sydney bubble?

    Newcastle still seems not too badly priced for what you get!


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