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Re: Australia to ban foreigners from buying some homes as costs soar

Cross-posted to 6 groups.

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On 2/17/2025 3:00 AM, J White wrote:
> Australia’s government will ban foreign investors from buying established
> houses for the next two years as part of an election pitch to tackle
> surging home prices.
> 
>  From April 1, foreign investors will be banned from buying established
> property until March 31, 2027, Housing Minister Clare O’Neil said in a
> statement Sunday. The restriction will then be reviewed to determine
> whether it should be extended.
> 
> Australia’s housing is some of the most unaffordable in the world and
> soaring property prices will be a key election issue amid a broader cost-
> of-living crisis, especially among young voters who fear they’ll never be
> able to buy a home.
> 
> In Sydney, housing values have jumped almost 70% over the past 10 years,
> with the median dwelling price now around A$1.2 million ($762,000),
> according to property consultancy CoreLogic Inc. Rents have also been
> climbing.
> 
> Still, the ban is likely to have only a marginal effect on prices.
> Overseas investors bought A$4.9 billion of residential real estate —
> including vacant land, new and established dwellings — in the 12 months
> ended June 30, 2023, according to the Australian Taxation Office.
> Established dwellings accounted for about one third of the total.
> 
> The tax office will be given extra funding to help enforce the ban, O’Neil
> said Sunday.
> 
> The government’s move to ban foreign purchases of established houses
> matches a pledge by opposition leader Peter Dutton made last year. An
> election must be held by May 17, and polls show it will be a close fight,
> with cost-of-living concerns and housing among the top three issues.
> 
> https://fortune.com/2025/02/16/australia-housing-foreign-investor-ban-
> home-prices-rent/


Similar happening in this country.  A developer put up 200 new houses 
and half were bought by investment firms.  They will rent them out and 
are driving up rental prices.

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Australia to ban foreigners from buying some homes as costs soar J White <jwhite@none.com> - 2025-02-17 08:00 +0000
  Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-17 19:32 +1100
  Re: Australia to ban foreigners from buying some homes as costs soar Petzl <petzlx@gmail.com> - 2025-02-17 20:08 +1100
    Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-18 04:54 +1100
    Re: Australia to ban foreigners from buying some homes as costs soar Java <java@boner.org> - 2025-02-18 22:31 -0800
      Re: Australia to ban foreigners from buying some homes as costs soar Petzl <petzlx@gmail.com> - 2025-02-19 18:33 +1100
        Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-19 19:24 +1100
          Re: Australia to ban foreigners from buying some homes as costs soar Petzl <petzlx@gmail.com> - 2025-02-19 19:38 +1100
            Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-19 19:54 +1100
              Re: Australia to ban foreigners from buying some homes as costs soar Petzl <petzlx@gmail.com> - 2025-02-19 20:30 +1100
              Re: Australia to ban foreigners from buying some homes as costs soar Roderick <noreply@mixmin.net> - 2025-02-19 11:12 +0000
                Re: Australia to ban foreigners from buying some homes as costs soar Petzl <petzlx@gmail.com> - 2025-02-20 08:55 +1100
                Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-20 09:27 +1100
  Re: Australia to ban foreigners from buying some homes as costs soar Ed P <esp@snet.n> - 2025-02-17 08:29 -0500
    Re: Australia to ban foreigners from buying some homes as costs soar Petzl <petzlx@gmail.com> - 2025-02-18 07:21 +1100
      Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-18 09:03 +1100
        Re: Australia to ban foreigners from buying some homes as costs soar Petzl <petzlx@gmail.com> - 2025-02-18 10:03 +1100
          Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-18 10:51 +1100
            Re: Australia to ban foreigners from buying some homes as costs soar Petzl <petzlx@gmail.com> - 2025-02-18 11:25 +1100
              Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-18 13:25 +1100
  Re: Australia to ban foreigners from buying some homes as costs soar Peter Jason <pj@jostle.com> - 2025-02-18 07:03 +1100
    Re: Australia to ban foreigners from buying some homes as costs soar "Rod Speed" <rod.speed.aaa@gmail.com> - 2025-02-18 08:49 +1100

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