Barnaby Joyce claims people who ‘look like’ recent arrivals dominate auctions. Who is he talking about?
Summary
Barnaby Joyce said people who seem like recent immigrants are outbidding Australians at home auctions, but official data shows less than 1% of Australian homes are bought by foreigners. The federal race discrimination commissioner warned against blaming migrants in the housing debate. Australian laws restrict foreign ownership of most property, and the government recently extended this ban.Key Facts
- Barnaby Joyce claimed recent arrivals are dominating home auctions in Australia.
- Official data shows less than 1% of home purchases are made by foreign buyers.
- The federal race discrimination commissioner advised against blaming migrants for housing problems.
- Foreigners are banned from buying most existing homes but can buy new or off-the-plan properties.
- The Australian government extended the temporary ban on foreign purchases of established homes until June 2029.
- Foreign buyers must get approval from the Australian Taxation Office before buying property.
- Experts say foreign purchases have a very small impact on Australia’s housing market.
- Labor’s new rules aim to protect Australian homebuyers while encouraging foreign investment in new housing supply.
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