FIRB admits just 17 foreign home buyers told to sell
The Australian- Business Review, by Rick Wallace, NOVEMBER 11, 2014
NEW statistics unearthed by a parliamentary committee reveal the extent of the gaping holes in Australia’s attempts to regulate soaring levels of foreign investment in established property amid a raging debate over the effect of Chinese buyers. The Foreign Investment Review Board has been forced to reveal it has issued just 17 orders for foreign investors to divest illegally acquired property in Australia since 2003, during which time it allowed offshore investors to purchase almost 30,000 homes.
Home loan approvals fall for second straight month as house prices surge
The Guardian, by Australian Associated Press, 10 November 2014
The number of home loans being approved has fallen for a second straight month but the value of those loans is rising as house prices surge. Housing finance in September fell 0.7%, more than expectations of a fall 0.4%. The value of total housing finance rose 2.3% in September, seasonally adjusted, the Australian Bureau of Statistics said.