About this inquiry

This inquiry will investigate Australia’s foreign investment policy as it applies to residential real estate.



Past Public Hearings

24 Sep 2014: Canberra, ACT
29 Aug 2014: Canberra, ACT
27 Jun 2014: Sydney, NSW

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Inquiry Status

Report tabled on 27 November 2014

Accessibility

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Further information regarding accessibility can be found at www.aph.gov.au/Help/Accessibility

Terms of Reference

The overarching principle of Australia's foreign investment policy, as it applies to residential property, is that the investment should increase Australia's housing stock. The policy seeks to channel foreign investment in the housing sector into activity that directly increases the supply of new housing (such as new developments of house and land, home units and townhouses) and brings benefits to the local building industry and its suppliers.

Consistent with this principle, foreign investors are able to seek approval to purchase new dwellings and vacant land for residential development. Foreign investors cannot generally buy established dwellings as investment properties or homes; however, temporary residents can apply to purchase one established dwelling to use as their residence while in Australia.

Notwithstanding these settings, concerns are raised periodically in relation to the possible impact of foreign investment on the Australian housing market.

In this context, the Committee is asked to examine;

The Committee is to report by 10 October 2014.

Committee Secretariat contact:

Committee Secretary
Standing Committee on Economics
PO Box 6021
Parliament House
Canberra ACT 2600

Phone: (02) 6277 4587
Fax: (02) 6277 4774
economics.reps@aph.gov.au

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