A new survey reveals that a majority of Australians support the Coalition's proposal to temporarily ban foreign investors from buying existing homes, aiming to ease pressure on the housing market.
Australians have overwhelmingly expressed their support for a policy proposed by the Coalition to prevent foreign investors from purchasing residential properties. The policy, which aims to alleviate pressure on the housing market and make it more accessible for local buyers, enjoys a 69 percent approval rating among voters. This strong backing transcends political affiliations, with 60 percent of Labor voters also favoring the measure.
The proposed ban on foreign investment in existing homes for a two-year period is part of a broader election debate encompassing strategies to curb migration, ensure mortgage availability, and incentivize state governments to construct more affordable housing.While the Coalition champions this policy as a crucial step towards addressing the housing crisis, the government has dismissed it as insufficient to make a substantial difference. They argue that existing restrictions on foreign buyers, coupled with hefty application and vacancy fees for properties left unused, already effectively mitigate their impact on the market. Opposition Leader Peter Dutton, who pledged this policy last year, contends that it is unjust for local buyers to be outbid by overseas investors with greater financial resources.This proposal has gained particular traction in marginal electorates, where 73 percent of voters expressed their support. As the nation heads towards a tight election, both major parties are vying to present compelling solutions to the housing affordability conundrum. The Coalition's plan, along with its accompanying measures to limit permanent migration and reduce the intake of overseas students, has resonated with a significant portion of the electorate. However, the government maintains its stance that existing regulations are sufficiently stringent and that further restrictions are unnecessary. The debate surrounding foreign investment in residential property continues to be a focal point in the Australian election landscape.
FOREIGN INVESTMENT HOUSING MARKET ELECTION AUSTRALIA COALITION LABOR
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Australians Back Plan to Halt Foreign Residential Property PurchasesA recent survey reveals strong support for a Coalition proposal to temporarily ban foreign investors from buying existing homes in Australia. The policy aims to ease pressure on the housing market and help local buyers. While the government dismisses the plan as insufficient, it enjoys majority backing across the political spectrum.
Read more »
Labor Slams Coalition's Nuclear Plan with $4 Trillion Price TagThe Australian Labor Party has criticized the Coalition's nuclear energy policy, estimating it could cost the national economy $4 trillion by 2050. Labor's analysis suggests the plan would lead to a 40% reduction in energy use and economic activity, with Queensland facing a $872 billion shortfall in gross state product by 2051. The Opposition has rejected these figures, calling them 'comical'.
Read more »
Dutton Urges Australians to 'Get Australia Back on Track' at Liberal RallyOpposition Leader Peter Dutton launched the Liberal Party's campaign in Melbourne, focusing on key issues like cost of living, crime, and Medicare. He contrasted the Coalition's vision with the current Labor government, arguing that Australians face a choice between stability and decline.
Read more »
Why Australians Struggle To Cut Back on DrinkingA survey reveals 44% of Australians want to reduce alcohol consumption, but face challenges. The article explores the reasons behind this struggle, including social pressures, ingrained coping mechanisms, and the fear of missing out on fun. It highlights the benefits of cutting back, such as improved physical and mental health, and offers tips for successfully reducing alcohol intake.
Read more »
‘Insanity’: Jim Chalmers claims Coalition’s nuclear plan will ‘push prices up’Treasurer Jim Chalmers has claimed the Coalition’s plan for Australia to adopt nuclear energy will “push prices up” and “make it harder for people”. The Australian jobs market continues to defy expectations of a looming economic slowdown, decreasing the chance of a February interest rate cut.
Read more »
Dutton Slams Chalmers' Criticism of Coalition's Small Business Tax Deduction PlanPeter Dutton refutes claims by Treasurer Jim Chalmers that the Coalition's plan to allow small businesses to deduct meals and entertainment expenses is a waste of taxpayer money. Dutton defends the policy, arguing it will boost small businesses and create jobs. Chalmers calls the plan a 'farce' and criticizes the Coalition for lacking a clear economic vision.
Read more »