Markets

The ATO has forced 300 foreign buyers to sell their Australian property

More than 300 foreign buyers who were in breach of ownership rules have been forced to sell their Australian properties, the government said. In the 2017/18 financial year, the majority of forced sales took place in Melbourne, where the average price of each transaction was $1.13 million. The crackdown on […]
The ATO has forced 300 foreign buyers to sell their Australian property
News

The Chinese investor chasing S. Kidman has walked away

The $371 million bid by Chinese-based Dakang Australia Holdings and ASX-listed Australian Rural Capital Ltd for the nation’s biggest pastoral business, S. Kidman & Co, has been withdrawn. The move follows treasurer Scott Morrison’s decision to block the sale of the land to foreign investors on national interest grounds for […]
The Chinese investor chasing S. Kidman has walked away
Markets

RBA: Foreign buyers will be propping up Australia’s housing market

Australia’s prudential regulator, APRA, in concert with the RBA, worked hard across the course of 2015 to take the heat out of the Sydney and Melbourne property price boom. But Australia is still building a large number of dwellings – mostly units – which, if they can find buyers, would […]
RBA: Foreign buyers will be propping up Australia’s housing market