The Greenfield Housing Code … Do you remember that? And now a ‘New Tax’!!

THIS CODE with lots as tiny as 200M2 x 6M wide was introduced by NSW INC when Anthony Roberts was Planning Minister …

A third of the size of traditional land lots in Australia … obviously better with more freedom than an apartment … but still very expensive for buyers …

NOW … are you aware that Greenfield landowners are to be hit with VALUE CAPTURE? This cost is being taken away from deve-lopers and dumped on landowners! As if deve-lopers don’t make enough …

READ MORE!

Local contributions and land value contributions’

https://www.planning.nsw.gov.au/Policy-and-Legislation/Infrastructure/Infrastructure-Funding/Improving-the-infrastructure-contributions-system/Local-contributions-and-land-value-contributions?fbclid=IwAR18xAQXakx09tecVKRr4VCVDvNGmSVxyn2qeEsyJmXKXIIGVKS-XBxgKNI

It’s a value capture they want to introduce now for landowners; not developers.

AND it is up to 20% of the Valuer General valuation NOW but the planning minister can change it at any time without consultation . Who knows how high it can go?

WHO in the government tried to slip it in? .. In the budget papers? …

NOW they have come back and are trying to push it through. Hardly anyone knows about it … this is what NSW INC do in the lead-up to CHRISTMAS!

AND submissions have to be written!

There needs to be a BACKLASH as the Real Estate Institute said this will push up the prices of land and houses.

THIS is what they are trying to push through:

https://www.planning.nsw.gov.au/Policy-and-Legislation/Infrastructure/Infrastructure-Funding/Improving-the-infrastructure-contributions-system/Local-contributions-and-land-value-contributions?fbclid=IwAR3ml0ynjSctluz-d6WySGQxmJIPCs5ZAfxUhL3Kul5hwXHevMgV8-wM4j8

New Regulations for Infrastructure Contributions Released for Public Consultation’ | Lindsay Taylor Lawyers

Public consultation is now open for new instruments relating to infrastructure contributions reforms. Find out more from the experts.

lindsaytaylorlawyers.com.au*

This is an explanation by a solicitor about the tax but it will AFFECT SUBURBIA not just rural areas. *

This section is disturbing as the NSW Government can also push up the price of up to 20% at any time, and they don’t even have to let people know!

Clause 32 will allow more types of amendments to be made to contributions plans without re-exhibition, including changes to the cost of public amenities and public services and local infrastructure contribution rates set out in the plan as a result of adjustments made in accordance with proposed Division 1B.

ONE of the reasons it was also knocked back in the inquiry … BECAUSE of the powers the Planning Minister will have!

NOW they are trying to push it through again!

HOW good’s this a matter of a few weeks before Christmas … THIS is what they (NSW INC) do!

URGENTLY WRITE YOUR SUBMISSION AND SHARE THIS TO LET OTHERS KNOW!

Even a few lines may well suffice!

AND ensure others know so you can each contribute!

PLEASE SHARE!

AUSSIE House Prices have Risen for 14 Months now … But for how much Longer?

WHAT of the cost to our Society? With a whole Cohort locked out … others taking on debt of $1.4M … what then?

WHO really benefits by these huge price rises? 

IT is not the VENDORS who heaven forbid are not subjected to the same jump in prices that they have gained

WHO benefits … it’s the real estate agent … $30,000 plus COMMISSION on each house sale to be pumped up more when the sale escalates beyond the Reserve …

AND with a number of sales each week …

IT’s not just interest rates … government grants … ‘Hot Money’ … but Agents pushing up house prices

AND the rise in interest rates locks out the aspiring First Home Buyer with minimum deposit … not the investor …

CoreLogic’s head of residential research Australia, Eliza Owen noted big bank and other analyst forecasts of national housing price declines in 2023 due to increased interest rates …

HOWEVER … we may not have to wait until 2023 … SQM’s Louis Christopher report “Housing Boom and Bust” midway through 2022!

Read more!

https://bit.ly/3CYUSCS

Australian house prices rise for 14th month in a row

READ MORE!

https://www.abc.net.au/news/2021-12-01/house-prices-corelogic-november-2021/100663944

An Uphill Battle for the Southern Highlands with NSW INC onside with Deve-lopers  … unless …

Related … the LIBERAL COALITON has introduced its religious discrimination bill yet have no conviction to instigate a Federal Integrity Commission!

WHY is this so?

The 7th Commandment:  Thou shalt not steal.

The 10th Commandment:  Thou shalt not covet thy neighbor’s goods

The Prime Minister has strong personal ties to the Federal development lobby group the Property Council of Australia … having written their policy before entering politics!

IT would appear that development is all about riding roughshod over thy neighbours … it is even happening in the Southern Highlands! Revealed in this SMH report:

Developers hiding in plain sight: Battle for the future of Southern Highlands

“Karingal” built by the locally renowned Alf Stephens in 1927.  “Karingal” occupied more than 3000 square metres close to the centre of Moss Vale

AND long into the 12 month settlement the vendors learnt of the buyer’s plans included a subdivision and 8 townhouses cheek by jowl with the original home.  And that the buyer worked for an international property developer!

Planning law changes have long been underway in NSW in concert with the Federal Liberal Coalition policies of high immigration to feed the need for development … pushing up house prices … and creating another market for alleged ‘affordable housing’ without placing ‘undue demand’ for more infrastructure …

These deve-lopers benefit from having it both ways having conspicuously moved into the Southern Highlands alongside SydneySiders moving in during the Pandemic.

The area was projected to grow by a mere 5 per cent between 2016 and 2041. Now forecasted for a 27 per cent population growth by 2041. Not that long ago elderly people remained in their family homes … what is it with so many people now falling into line with ‘retirement villages’ and ‘community housing’ and the negative fine print … paving the way for developers?

A 109 hectare Burradoo property sold for almost $50M with buyer plans to redevelop this rural land into residential.

The first 80 blocks of property south of Moss Vale sold in under 3 hours for $40M …

This influx of SydneySiders has led to subdividing large town blocks. And just like Sydney suburbs Bowral with its $2 – $2.5M homes are now threatened with deve-lopers buying up neighbouring homes to build apartments. 

Some life-long locals have taken objection to these high profile Sydney buyers exerting authority in local politics.  Yet other high profile SydneySiders who have said “ … it’s not saying ‘no development’, it’s saying, Just do it well.” 

Are they naïve, or is it again about what’s in it for them?  Afterall deve-lopers are about covering every spot of land …

Sadly it is up to NSW INC whether it extends the heritage order on ‘Karingal’ …

IT has now come to light that the original buyer of ‘Karingal’ sold his option to a former business partner a month before the property exchanged!  And has denied Mr Manning’s account of what happened!  And has declined to comment further! 

There seems to be a pattern here … with nasty politics and excessive desire, or inordinate love, for wealth, status and power.

READ MORE! 

Developers hiding in plain sight: Battle for the future of Southern Highlands

https://www.smh.com.au/national/nsw/developers-hiding-in-plain-sight-battle-for-the-future-of-southern-highlands-20211124-p59bo7.html

Alicia Barry Interview with Louis Christopher SQM Housing Boom and Bust Report

THE FOLLOWING was discussed in this interview:

“NAB chief executive Ross McEwan has also called for more action from APRA, and when you have

someone in that position to call for further tightening, generally speaking, it’s already in the planning

stage.

“Put it this way, if the Australian housing market does not slow down by mid-2022, APRA will keep intervening until it does. We cannot afford another year of 20 per cent plus gains across the national housing market.”

https://www.afr.com/property/residential/housing-boom-poised-to-end-in-2022-but-not-in-brisbane-20211124-p59blj

Key Points …

-a lot of money spinning around the economy; a lot into housing pushing up prices

-Sydney and Melbourne significantly over-valued;  the most over-valued ever seen!

.with significant risks

-the financial regulators: the RBA and APRA acted in early November

-and will step in again to avoid a hard landing in our housing market

the risks are the massive gaps between prices and income  *

-in Sydney only 15 suburbs with a median house price under $1M; extraordinarily over-valued

if this market continues to rise anor 20% in 2022; likely we will have a hard landing

-likely regulators will step in again until the evidence is there the market is slowing down

inflation at 3%;  thought to rise another half a percent  to 3.5%

-regulators to focus on investors through multiple steps

-with house prices out of control it will force a hard landing that affects the rest of the economy

.expect regulators will target the rate of growth

.less owner buyers in the market

FHBs not seen since mid year

investors now taking up the larger proportion of the buying activity

a typical phenomenon we see towards the end of a housing cycle

2022 expect an increase in demand for units; because they are more affordable

-international borders opening to overseas students and migrants who traditionally invest in units

-with lockdowns assumed to be over many will return to the big cities from the regions seeking more amenity in the cities

-6 to 8 months after the downturn started a good call for FHBs

-SQM not in a position to tell people when they should buy their home

-belief that the market will soften next year; not going to crash

-that the regulators will stop the crash if they can

CAAN: Sadly with our borders opening up for migrants and international students this will increase competition once again for Australian home buyers! And in the jobs market maintaining low wages!

ASK WHO IS ON YOUR SIDE?

WATCH!

A Relic from the C5th … Who says Gladys’ Halo has not slipped?

THE ‘Court of Public Opinion’ … where does it come from? From Polls conducted by RESOLVE.  And influence from Sydney Morning Herald articles like this perhaps based on ‘Resolve’s’ Polls … “Berejiklian’s halo has not slipped, survey shows”

WHO are Resolve? 

Resolve Research, a company with strong links to the LIBERAL PARTY; founded by Mr Reed, a director of CT Group formerly Crosby Textor

Further described as a political strategy firm, a lobbying firm, providing political consultancy. And social research, corporate strategy and political polling services (for the Liberal Party) FFS!

ASK …

Where was the poll conducted?

Was it in her electorate alone?

Was it conducted with Liberal Party members?

What is the size of the sample?

Will we ever know?

‘Much of the court of public opinion thinks she simply has bad taste in boyfriends, rather than being corrupt.’

Who buys this? 

Gladys had a five year affair with Maguire … at least. She would have been in her mid 40s when this began … not a naïve young woman …

Following her high school education she spent several years studying at the campuses of the University of Sydney and NSW … well known for sex scandal ridden colleges.  At the very least Gladys would be aware!

At 23, Gladys joined the Liberal Party in 1993, and progressed to become President of the NSW Young Liberals  … Campaign Director for the State seat of Willoughby in 1999  … and worked for the Commonwealth Bank as general manager ….

ASIDE from this SMH report based on the Resolve Survey, her alleged popularity would appear to be somewhat contrary to her government record of running roughshod over much of Sydney’s communities … and this is what her ‘hardworking persona’ has meant for these communities!

Her beau Daryl engaged with developers including Chinese-owned ‘Country Garden’ that led the way for the high density high-rise precincts across Sydney with the North Ryde ‘Ryde Garden’ despite community-wide objection …

-the latest … the demolition of WILLOW GROVE!

-Heritage Windsor and the Windsor Bridge demolition to make way for sandmining (for concrete for more high-rise development)

.another community in the Hawkesbury to be impacted by the Richmond Bridge Project

raising the Warragamba Dam Wall (for overdevelopment)

Appin and the only chlamydia free Koala Colony threatened with extinction due to mass development and fencing to contain them

-widespread negative impact of WestConnex and NorthConnex across a huge swathe of Sydney; residents subject to compulsory acquisition of homes and businesses at below market ratescracking in their homes;  now privatised toll roads; costing Western Sydney residents some $6,000 per annum

Sydney light rail bill passes $3 billion; known as the ‘Light Fail’

-the Sydney Metro owned by MTR Hong Kong Consortium; closing much of our public heavy rail network

high rise high density precincts robbing low rise communities of their amenity; services all full-up!

-the heavy policing of the 12 LGAs with High Covid numbers

Gladys alleged ‘hardworking public servant persona’ put to good use to bury her major error with the ‘Ruby Princess’ when almost 2,700 passengers – some coughing and spluttering – were allowed to leave the ship at Sydney Harbour, catching trains, buses and even overseas flights to get home that led to the spread of Covid across the country!

Three days ago … ‘the leaked email revealing how Gladys Berejiklian split Sydney in TWO – forcing the west into a draconian curfew with soldiers on the streets while the east and north roamed free’

Her government ignored Dr Kerry Chant’s advice to apply the same rules across Sydney

Dr Chant told Brad Hazzard to use consistent restrictions

READ MORE!

https://www.smh.com.au/politics/nsw/berejiklian-s-halo-has-not-slipped-survey-shows-20211124-p59bop.html#comments

MERITON sets itself apart from ‘The Rest’ with its ‘Viciniti’

IS Old Harry seeking to set his apartment developments apart from ‘the rest’?

With ‘Viciniti’ in Cottonwood Crescent, Macquarie Park?

THERE have been so many negative headline print and television media reports across the country and overseas about Australia’s defective residential apartment developments could Meriton now be seeking to capitalize, and exploit such an opportunity?

AND it will cost less in not having to deal with the Building Commissioner … having to redress the Mess … and the unfavourable PRESS!

AS with this sample lot here!

Toplace Group (incl. Parramatta Rise, Riviera Apartments, Skyview Apartments Castle Hill, Vicinity in Canterbury) … Ecove (Opal Tower) … Ganellan … 82-84 Belmore Street Pty Ltd, a subsidiary of Holdmark GroupMerhis Group …  Four of the five developer companies were deregistered … BBC Developments (Station Road; by former Clr. Ronney Oueik; with fire safety issues and the roof blew off!)

JB Elias Pty Ltd owned by Hanna and Susie Elias continue with Sydney projects (Mascot Towers) … Brookfield Multiplex (Chelsea tower) 16-30 Bunn Street, Pyrmont  (original builder: BJ Metro Pty Ltd, was deregistered in 2008) … Palermo, Baywater and Savona Drive, Hill Road and Nuvolari Place, Wentworth Point, Sydney …

Payce Consolidated (Palermo) …  Raad Groupalso known as Lansari (Centenary Park) …  Meriton* (World Tower; Regis Towers in Castlereagh Street, the Summit in George Street and the Mirage in Bunn Street, Pyrmont) … DeiCorp (Star Printery)

In its Promo with ‘Viciniti’ Meriton has the pick of locations in Cottonwood Crescent beside Wilga Park, the Cottonwood Reserve and Shrimptons Creek.  Two 12 storey luxury suites, and a state of the art childcare centre!  Unlike Meriton’s ‘Destination’ with its view of the M2!

‘Viciniti’ is close to Macquarie Shopping Centre, the Metro, University and a private hospital! In the midst of a business and commercial park, and traffic too!

How many walk-ups have MERITON now eyed-off, and bought-up in and around Cottonwood Crescent?

For those not in the know … MERITON can advertise it won the Property Council of Australia’s  (the PCA) Best Mixed-use Development for 2020!  That is the Federal Property Developer Lobby Group where they’re all Mates, and Sc.mmo wrote their policy before he entered politics …

WHAT has prompted MERITON to push its 100% Australian owned?  Could it be a ‘pang of conscience’? Throughout this deve-loper Building Boom in residential apartments thousands of home buyers have been left bereft indebted far beyond their mortgage, and unable to on-sell their homes due to not only structural issues but defective materials …

THERE maybe a cost saving here for Meriton to build with ‘Australian Made’ with shipping delays due to the Pandemic, the likelihood of more of them, and Scomo’s War with China … and with Australia having imported for decades now … inferior and defective overseas made inflammable cladding, fixtures, fittings, electricals, plumbing that do not meet Australian Standards or the Building Code.  Has this finally proven to be a false economy?

WHAT $$ does it come down to for ‘The Buyer’?

For a one bedroom apartment a range from $670,000 to $755,000 … Off the Plan one bedroom one bathroom, air conditioning, gym, indoor spa and more!

one bed with parking from $875,000 to $910,000 with a study, secure parking, air conditioning and more

Two bedroom apartment from $990,000 to $1,220,000 with two ensuite bathrooms and more

Three bedroom apartment from $1,340,000 to $1,670,000

Four bedroom apartment from $2,150,000 to $2,205,000

Where will the Buyers come from? Will HT bring in more migrants from Hong Kong … Singapore and …

AUSTRALIA NEEDS A PAY RISE!

WHY are some Sydney Suburbs more liveable than others? 

WHY have some Sydney suburbs become less liveable and others more so?

PERHAPS why some in Western Sydney rate where they live with a liveability score of 64 … 4 points below the national average of 68 …

… because this stems back to the fact that much of Western Sydney was developed much later than the Eastern and North Shore suburbs?

WHY was the infrastructure not developed prior or simultaneously with the new subdivisions?  Did the deve-lopers get off Scot-free?

PERHAPS through political donations deve-lopers have gotten away with so much?

THE established burbs have public transport, ready access to health facilities, schools,

shopping centres, parks, gardens, kerb and guttering …

Lane Cove Council and not specifically Lane Cove scored 76 for sustainable urban design? Lane Cove itself has streets of high density with problems of waste collection; with cars parking out those streets. Cars are damaged with tight parking and falling branches! The housing market is expensive as are rents!  It has the amenity of a shopping centre, a library, schools, sewerage, a motorway, a bus service

A commentator wrote that he grew up in Balmoral Beach in the 60s and compared it with that of today with its ‘Super rich’ residents; choked with traffic and people; parking police collecting revenue, and the loss of its community!

SOME COUNCILS like RYDE have a ‘Street Tree Planting Program’!  And invite residents to participate! 

PERHAPS other Councils are also involved … and your Burb can look leafy like Hunters Hill … Wahroonga … Pymble … Turramurra … too?

DESPITE the efforts of ‘progressive Mayors’ to tackle the heat sinks, and urban crush …

the learner Premier Major Dom proposes 400,000 more immigrants per annum for five years ffs!

WHERE is it proposed that they live? The Planning Department ‘Central City’ of Parramatta, The Hills, Cumberland and Blacktown Council Areas to deliver 40% extra housing over the next five years!  60 Kms from the coast and the CBD with more apartment blocks and urban heat islands!

AND ANOTHER DEVE-LOPER HOUSING BOOM!

WESTERN SYDNEYSIDERS need protect what they have … the Nurrangingy Reserve and the Wianamatta Regional Park (the last of the Cumberland Plain bushland) and the nearby Blue Mountains

PARRAMATTA has its theatres, parks, University, and nightlife.

PENRITH/Jamisontown with family activities incl kayaking, skating rink, bowling, sports, the river, nature and the Joan Theatre …

The Eastern Suburbs beaches have their issues of storm/sewage runoff, traffic, parking, parking fines, gridlock.  The Inner West with air traffic noise …

IT’s time to vote the donor recipients out!  Because Sydney was nice back in the 80s until the late 1990s before ‘the vandals and their crush took over’!

Opportunities now arising for change with imminent Local Government elections, and in 2022 for State and Federal Governments!

READ MORE!

https://www.smh.com.au/national/sydney-s-most-liveable-suburbs-and-where-residents-are-least-happy-20211118-p59a15.html#comments

LOW WAGES since 2013 … Yet Bankers Predict House Price Hike for 2022!

WHY?

It’s rigged, isn’t it?  A Sellers Market, and set to benefit Investors, Foreign Buyers, Money Launderers and especially apartment deve-lopers …

With house prices in Sydney, Canberra, Hobart and some regional areas shooting up by more than 30% in 2021 … let that sink in …

A recent study by the McKell Institute found:

The average Australian worker would be earning $254 more a week if wages growth had continued at the rate achieved under the last Labor government, according to a new analysis.’

Since the Liberal Coalition Government gained power in 2013 wages have grown 2.5% compared to 4.6%  in 2007 to 2013 with the Labor Government.

Average weekly earnings for men would be $310 higher if the average rate of wage growth from 2007 to 2013 had been sustained since 2014 to 2020!

And women would be earning $152.23 more a week!  Why were our wages suppressed?  This study blames a suite of Liberal Coalition policies including the public sector pay freezes, an increase in Visas for temporary migrant workers, inaction on wage theft, the GIG economy, and this government failed to press the Fair Work Commission for bigger minimum wage increases

Read more!

https://www.theguardian.com/australia-news/2021/jun/23/wage-growth-slowdown-under-coalition-costs-average-worker-254-a-week-study-finds

First Home Buyers who did not have the ‘Bank of Mum and Dad’ were locked out in 2021.

HOW can they save more than 80% of their annual wages for a deposit?

Where are the ‘cheaper rents’?  Say less than $420 per week?  That is $1640 per month … 

WHAT is left to get over the deposit hurdle and prices skyrocketing … ?

YET the ANZ predicts that house prices are to continue to rise by a little more than 6% in 2022 prior to falling some 4% in 2023 …

WT ##

HOUSING IS UNAFFORDABLE IN 2021 …

AS the real estate go-between persists pushing up house prices … to the liking of vendors and the bankers …

IT is reported that more homes are coming to market, and a rise in fixed mortgage rates and a slight reduction in maximum borrowing may slow this down … ?

The RBA wages growth forecast of a mere 3% by end 2023 … half that of the additional 6% house price rise and …

IF house prices fall 4% as ANZ predicts by the end 2023 housing would be 27% more expensive than at the end of 2019! 

WESTPAC’s senior economist predicts an 8% house price rise for 2022 with wage growth of 3% …

IT appears that the Morrison Government First Home Buyer schemes were created to boost the demand, and fill the coffers of apartment deve-lopers as these schemes cut out at $800,000 in Sydney.  The Sydney median house price is now $1,499,126!

Read more!

The hope for more listings in 2022 to outstrip demand from buyers appears to be dashed with the Perrottet Government ‘Plan’ to bring back International Students

“This is a significant milestone in our roadmap to recovery and I can’t wait to welcome back such an important part of our community,” Mr Perrottet said.

AND the Morrison Government post-COVID economic recovery plan includes the return of skilled migrants.

“We are going to have a business led recovery here in Australia.”

Read more!

https://www.msn.com/en-AU/news/australia/international-students-to-return-to-nsw-quarantine-free/ar-AAQDORP?ocid=sapphireappshare

The solution would appear to be with the Constituency in 2022 … Meanwhile have a chat with others about the FACTS shared in this report!

THE QUESTION again is asked ‘Does Temporary Migration Hold Down Wages for Everyone’?

YES, obviously, it does with increased competition for jobs!

IT was the Howard Government that introduced TEMPORARY VISAS … for Workers and Students which replaced Australia’s Permanent Migration of 70,000 people annually

PRIOR to the PANDEMIC there were 2.3 MILLION VISA HOLDERS of which 1.6 MILLION were VISA WORKERS in AUSTRALIA!

… willing to work for slave rates and conditions …  with the goal of gaining Permanent Residency and a new life here …

THIS has led to high unemployment and underemployment of Australians …

The one million Australians forgotten in the unemployment statistics

https://thenewdaily.com.au/finance/work/2019/10/17/unemployment-figures-marginally-attached-australia/

IT would seem that too many Employers are exploiting the desire of temporary migrants to come here to gain residency by working in jobs not linked to their qualifications but in cleaning, hospitality, and fruit picking for three or more years before gaining employment in their chosen vocation.

‘Since the borders shut in March last year, more than 500,000 temporary migrants have left the country,’

SO what did Employers do since the Pandemic?  It appears they have held out with few offering better wages and conditions, and continue to push for the return of high immigration of Visa Workers!   Alleging skilled worker gaps …

IT appears the lowest wages growth for more than 60 years … is being maintained!

These temporary and student permits (Visas) ‘make people more vulnerable to exploitation by employers’ because employers can threaten them with deportation or punishment so these temporary migrants can be underpaid in exploitative work!

‘This can go on to depress wages in that sector: something seen through large-scale wage theft and rip-offs in hospitality and the agricultural sector.’

READ MORE!

https://www.abc.net.au/news/2021-11-16/as-migration-restarts-does-it-hold-down-wages-for-everyone-/100620538

Monika Tu … ‘Black Diamondz’ feels Chinese Property Buyers can get picked on

Foreign Buyers have continued to flock to Australia during the Pandemic … not in as many numbers … but they have not only been coming from China’s ‘Mainland’ but Singapore and Hong Kong too!

It is not just Harbourside Mansions they seek … or the Upper North Shore … and the Elite Eastern Suburbs but High-Rise PRECINCTS across Sydney Town … built specifically for this foreign buyer market!

Take a wander or a drive and see for yourself …

… Meadowbank Top Ryde North Ryde Macquarie Park Wentworth Park Rhodes!  It goes forever! Melrose Park, and heaps more! These precincts are largely owned and occupied by Chinese people.

It is reported there are only 1.2 Million Chinese people here … how credible? Very outdated reports.

HOW many more times do we have to read this from Monika Tu?

She said key drivers were lifestyle, education and business prospects.

‘And despite the Covid pandemic, she said her business – which has an annual turnover of $200m – “keeps growing”.’

WHAT does Australia’s stable political environment, strong economy and good education amount to?

In fact underlying all that Ms Tu speaks of Australia’s real estate market is awash with ‘Black Money’ … much of it coming from China …

READ MORE!

‘Who are Pushing Back Against Tranche 2 Anti-Money Laundering Laws?

https://bit.ly/3Ce9kGC

Would these attractions be about the access gained by wealthy Chinese business people having not only acquired residential property to gain Permanent Residency, but also investing in commercial businesses, and access to either free education or the opportunity to send their children to ‘private schools’. 

Obviously this huge influx has led to much competition not only for our housing market, but also investment in business!  And contemplate the consequences …

Apparently Chinese homebuyers allege they ‘are getting picked on’ yet Ms Tu ‘notes the attractiveness of a friendly community’ … ?

Yes, they like what we have …. Or is that what we had?

The proximity to their China and clean air … here for the time being …

– Ms Tu also addresses a “misunderstanding” around the influx of wealthy Chinese property purchasers. And rejects that her clients and numerous others are taking opportunities away from Australians … well how good was it before this huge influx?

It was very good! Before ‘Visa workers’ we had Award Wages and conditions … and 70% home ownership among Australians …

The only competition for housing was a more sustainable 70,000 permanent migrants arriving annually … not Hundreds of Thousands with a temporary Visa to exchange for Permanent Residency after buying our real estate …

IS it any wonder ‘Chinese love the properties’?  And continue to buy up Australia because they can …

The Morrison Government has facilitated this … influenced by the developer lobby groups, The Property Council of Australia, The Urban Taskforce and others …

The Foreign Investment Review Board (the FIRB) is the avenue through which this all takes place.  It was around 2008 that an FIRB ruling allowed developers to sell 100% of ‘new homes’ to foreign buyers .. not content with providing housing for the incumbents they looked to the overseas market particularly of China with its 1.4 Billion people …

With the Howard Government the Middle Class Chinese were lured to buy our real estate and/or education to gain ‘Flexible Citizenship’ which led to a Housing Boom in the early 2000s … 2004!

And so it has continued … increasing the supply of housing for the ‘foreign demand’ locking out Australians …

The increased supply of ‘new housing’ is for foreign buyers … it is not for the Australian home buyer …

Aspiring First Home Buyers had a brief look-in with the Pandemic … those that had wealthy parents to back them …

WHY is it that there have been so many reports of Australians ready with a deposit and/or ‘cash buyers’ unable to secure a sale for 12 months or more?  Having spent every weekend attending auctions with 100 or more around them competing …

Let alone the stories untold!

The International competition for Australian Homes, it appears, began when the FIRB was established in 1976 during the Liberal Fraser Government to advise the Treasurer and the Government on Australia’s foreign investment policy, and its functions are only advisory. The responsibility for making decisions on Policy and Proposals rests with the TREASURER!

Thus it would seem that the Property Sector and the Government of the Day ‘work hand in glove’ ….

SEARCH for ‘Chapter 2: Regulation of Foreign Investment in Housing’


The Spin

‘Australia’s overall foreign investment policy usually encourages overseas buyers to purchase residential property and, as a result, increase the supply of new housing.

Without foreign investment, many new building projects would become unviable.’

Many of us still remember Meadowbank, Top Ryde, North Ryde, Macquarie Park, Wentworth Park, Breakfast Point, Rhodes, and Melrose Park low-rise residential, and/or commercial/industrial areas where our communities lived and worked before storey upon storey deve-lopers made a motza selling overseas … that’s how viable these high-rise precincts are for deve-lopers.

Australians have had no say about high immigration through the backdoor of property investment … a consequence of lobbying and political donations …

We doubt very much the Chinese having gained residency are at all concerned … more likely they are well pleased … smug even …

The FIRB reported a drop in Chinese investment in 2019 due to the Pandemic however with so many having flown here over the past two decades and acting as Permanent Resident Onshore Proxies … perhaps we will never know how much Chinese investment has occurred?

And Ms Tu says that since the Pandemic her business keeps growing!

READ MORE!

‘Real estate: Chinese homebuyers ‘are getting picked on’

https://www.news.com.au/finance/real-estate/buying/real-estate-chinese-homebuyers-are-getting-picked-on/news-story/479bf0c331c794a9a759a79e4eb865ab