Government matches Coalition policy on housing

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.