MacroBusiness Chief Economist Leith van Onselen says the federal government ought to ban non permanent migrants from buying present dwellings in Australia.
Mr van Onselen’s remarks observe new figures revealing that Chinese language consumers spent round $3.4 billion on Australian residential actual property prior to now monetary 12 months.
“What we’ve principally seen is, we’ve seen an enormous inflow in non permanent migrants, that are largely international college students and shock, shock, that’s resulting in extra purchases of established dwellings.
“On the very least, if the federal government’s not going to chop the immigration consumption, they need to not less than ban non permanent migrants from buying present dwellings.
“I don’t learn about you … however I all the time thought a short lived migrant was non permanent so why are we permitting them to purchase our established property? It simply doesn’t make any sense.”
