A 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.
Australians have strongly backed a Coalition plan to stop foreign investors buying residential property, with 69 per cent of voters in favour of the move as a way to help local bidders get into the housing market.
An exclusive survey shows that support for the Coalition proposal is higher in marginal electorates before a tight election when both major parties are trying to prove they have policy solutions on housing. The Coalition plan does not prevent foreign investors buying into new apartment towers or housing projects, given arguments that the offshore funding can help encourage construction.
The policy has the strongest support among Coalition voters, with 79 per cent in favour, but is also backed by those who vote for Labor and the Greens . Federal laws were loosened to encourage foreign investors in residential property in 2008, only to be tightened in later years as both major parties reacted to voter concerns. The CoalitionForeign investors bought 5360 homes in the year to June 2023,, in deals worth $4.9 billion. Victoria, NSW and Queensland accounted for three-quarters of the transactions.
FOREIGN INVESTMENT HOUSING MARKET ELECTION AUSTRALIA COALITION
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.
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 »
Broadway smash Hadestown is taking Australians to the underworld and backAnaïs Mitchell’s big, bold and brash retelling of a Greek myth has gone from a DIY musical to a Tony-winning Broadway hit. Now, it’s finally coming to Australian shores.
Read more »
TikTok comes back online after Trump pledges to halt banDonald Trump says he will use the first day of his presidency to help TikTok circumnavigate a US law that bans the Chinese-based company.
Read more »
Card Surcharges: Aussie Businesses Back Government Plan, But Consumers May Still PayWhile the Australian government plans to scrap debit card surcharges to ease cost of living pressures, major businesses support the move, raising concerns that consumers may ultimately bear the brunt of the cost.
Read more »
‘We were excluded’: Lord Mayor hits back at Palaszczuk over Games planAdrian Schrinner says the former premier politicised Brisbane’s Olympic bid, excluding council from talks and blindsiding it on key decisions.
Read more »