The foreign investor myth that’s fooled us all

THE Australian property market is a complex beast. Prospective homeowners are so desperate to get a foothold in the housing game they’re putting off having children as they front up to dozens of open houses and auctions each weekend trying to find their forever homes. Yet in the very same suburbs, foreign investors — predominantly Chinese buyers — are snapping up properties they’re happy to let languish unoccupied with no intention of ever living in them. What’s seen as the […]

OECD warns of ‘rout’ in house prices if investors head for the doors

The OECD has warned of a “rout” in Australian house prices, leading to a new economic downturn, saying both prices and household debt have reached “unprecedented highs”. The warning is in an otherwise positive biennial assessment released overnight that broadly mirrors the Australian Treasury’s. The survey says in real terms house prices have climbed to 250 per cent their level in the 1990s, with much of the increase taking place in the past few years, “straining affordability, especially for first-time […]