Foreign property investment ban: gimmick or game changer?
Both sides of politics are turning their sights against foreign property buyers, but will a ban have any impact on the housing crisis?
Foreign real estate buyers have become a source of political point scoring despite accounting for around 0.4 per cent of purchases. (Image source: Shutterstock.com)
Political posturing over the housing crisis has continued, with the Federal Labor Government undermining the Opposition’s stance on banning foreign property investors from buying established homes by adopting the same policy.
Foreign investors are already barred from buying existing homes but are allowed exceptions for some circumstances, like moving to Australia for work or study.
In 2022/23, foreign investors accounted for just 5,360 resident…
