The government has matched another Coalition policy - preparing a ban on foreign investors from purchasing existing homes. The decision foreshadows a close election campaign as new polling suggests a tightening race.
Key Points
- The government is flagging a complete ban on the purchase of existing homes by all foreign investors including temporary residents - like international students - and foreign-owned companies.
- Housing Minister Clare O'Neil says this is a step towards solving Australia's housing crisis.
- The government's ban, with a few exceptions, is due to come into force on the 1st of April and last for at least two years.
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