Predictions our ‘Hot Property’ market could escalate further when Borders reopen!

Who are ‘the Suits’ in Australia … the ‘Judas’ in our midst seeking more Hot Money in our Real Estate?

Is there no end to their greed?  

How about our Rich Listers fly off and buy in Beijing … Shanghai … ?

Juwai IQI chair Georg Chmiel has reported that in both Los Angeles and Montreal house prices have surged triple that of Sydney

Enough is enough!

Not only should the Australian Government put a stop to ‘foreign buying of our home market’ through the Foreign Investment Review Board (FIRB) ruling, but it should reverse the exemption granted to the Real Estate Gatekeepers for the second tranche of the Anti-Money Laundering Laws.

We heard muchin fact continuously about the cheap money from the banks and government grants for First Home Buyers and renovators which pushed up house prices … again to benefit this Sector! And through Government media, Australia was promoted as having largely restricted the Pandemic outbreak … was this to entice more foreign buyers?

This campaign has locked out even more Australians seeking a home.

 
Where is our federal government intervention?
At least in New Zealand their central bank has introduced lending restrictions to pull up these runaway house prices unlike here where investors have taken up where First Home Buyers have again been locked out of home ownership.

According to Chmiel our city house prices are closer to the ‘middle of the pack’ … cheap, eh?  Our price growth he says is measured, that  in London and Tokyo fell by 6% and 7% … we wish!  True, our borders were closed to migrants and Australians stranded overseas, but not to some 15,000 wealthy foreigners especially Chinese buying our mansions, and homes with large land lots! 

https://bit.ly/3C6txPF

… So it seems Juwai figures this Boom will continue as the lockdown retreats with the return of Chinese students gaining Family Visas and all …

So what is the Morrison Government going to do about this?  This disease is not going away any time soon especially with China’s very big problems

Wuhan has reported a new and growing cluster on 3 August sparking a new round of testing. And scientists say China’s vaccines are less effective against new strains of this virus.

https://www.abc.net.au/news/2021-08-09/wuhan-mass-virus-testing/100361016

And an outbreak that started in July has now spread to about 40 cities!

https://www.abc.net.au/news/2021-08-07/china-covid-outbreak-nanjing-wuhan-delta-variant-risks/100345914

Is this government going to risk the health of its constituents, and our broader economy just to look after the property sector?

How can the impact of foreign buyers be muted when millions are either of Ultra High Net Worth or HNW can fly into Australia?  China has 1.4 Billion people keen for the uptake of new builds … inner city apartments, mansions and suburban homes … that is looking like a plague in proportions!

We figure a lending intervention will only work if at the same time the Government puts a stop to ‘wealthy foreigners buying our homes’

It’s time the government looked at the role of the agents in all of this … during 2021 we had the Open Homes of 100 or more buyers now replaced with one to one private inspections booked on top of one another …

Followed by auctions or Private Treaty where agents communicate inflated prices on properties setting up FOMO buyers!

An increase in supply will only work to return this market to Australians if the Government puts a stop to the overseas sell-off .

Related article:

Under the Cover of Covid 15,000 Wealthy Foreigners given Australian Visas!

DURING the Pandemic 15,000 wealthy foreigners have been given Australian Visas!

WE did tell you so! 

Martin North, principal of property research firm Digital Finance Analytics, also notes ‘there’s been a swing away from foreigners looking to invest to people wanting to move here.’  And that they are more interested in buying land and larger properties!

Overseas Buyers are tipped to Return!

https://www.abc.net.au/news/2021-07-02/chinese-overseas-buyers-australia-property-housing-investors/100259470

Little-known property investor quietly secures $32m housing parcel in Vaucluse

https://www.domain.com.au/news/ying-yu-sister-in-law-of-wilson-shoe-king-xue-buys-8m-house-as-part-of-32m-vaucluse-consolidation-1073532/

MEANWHILE tens of thousands of Australians remain stranded overseas!

This latest report:

https://www.abc.net.au/news/2021-07-28/australians-want-to-flee-coronavirus-hit-indonesia/100323264

IS this not the ultimate betrayal by the Morrison Government through its business innovation and investment visa programme?

Under these visas:

Business Innovation Stream applicants can buy or start a business, and have $1.25M in either business or personal assets

Investor stream, applicants have to be recommended by a state or territory agency and invest $2.5M on authorised investments

Significant investor stream, applicants must invest $5M, with a minumum $1M in venture capital or private equity

In September 2016 in its final report the Productivity Commission called for these visas to be scrapped because they are channels for money laundering!

WHY hasn’t there been a response from the Morrison Government to a public inquiry into “Migrant intake into Australia”?

https://www.pc.gov.au/inquiries/completed/migrant-intake#report

With the ‘Significant Investor and Premium Investor Visas’

no English language requirements

no upper age limits

-a risk they might be an avenue for ‘dirty money’

Most business and investment immigrants are often older, buy retail and hospitality businesses, so how can this add to Australia’s innovative and entrepreneurial capacity?

View this AFR report about migration agents enabling Chinese investors to gain Significant Investment Visas!

https://www.afr.com/companies/financial-services/vc-funds-concoct-fraudulent-visas-for-wealthy-chinese-investors-20200729-p55gii

HOW can this be of any benefit to the Australian people and our Nation with more competition to buy our businesses from overseas with ‘black money’?

AND even more competition for a limited supply of housing, and inadequate infrastructure as these VISAS allow ‘Permanent Residency,’ and the benefits of parking ‘their family’ in Australia as they can continue to run their business in another country?

These families have access to our MEDICARE, and FREE EDUCATION as their business is predominantly overseas! 

WT ****!

READ MORE!

https://www.smh.com.au/national/15-000-rich-foreigners-given-visas-to-australia-during-the-pandemic-20210721-p58bky.html

NSW INC falling into Line with 7600 New Homes in Macquarie Park

Planning Minister, Rob Stokes said ‘future development would help Macquarie Park transition from a successful suburban business park to a vibrant commercial and residential centre’.

Have we missed somethin’? Already there is extensive high density, high-rise residential development there that has replaced much of what was a well-planned Business Park …

AS SUMMED UP BY GEORGE!

‘……and of course the 7600 apartments marked for Macquarie Park Precinct in the midst of a PANDEMIC these fools are counting on the INTERNATIONAL borders opening up to a FLOOD of STUDENTS who then pave the way for their parents coming as RETIREES .. …of course … buying up everything from not only APARTMENTS at the behest of old mate HARRY’s instructions but all our Prime properties in established GREEN suburbs as well…..near the best HOSPITALS to boot. …oh it’s as crook as it gets.’

CAAN: The Macquarie Park apartment precincts were predominantly sold off to foreign buyers particularly to Chinese buyers.

Now Macquarie Park is congested; its roads clogged. With a huge demographic change having taken place within Macquarie Park, who will be in the running for job opportunities?

The CCP expansion is underway from state-owned Chatswood, and the Berejiklian Government, it appears, is enabling this!

VIEW: ‘A Geopolitical Strategist on the MK, Hong Kong, the U.S. and Australia’

David Lee talks of our finance industry siding with Beijing, China contrary to our interests!

READ MORE FROM THE URBAN DEVELOPER: ‘NSW Plots 7600 New Homes in Macquarie Park’

https://www.theurbandeveloper.com/articles/macquarie-park-nsw-strategy?fbclid=IwAR1yQgGkSnRR4dpieCquGGLYNzYjs23gfYcbB1i121yAdA10bBpQOJlWdnY

Chinese Property Buyers tipped to replace Chinese Investors in Australia

Chinese property Buyers tipped to Replace Chinese Investors in Australian homes, isn’t it one and the same thing?

Having invested in an apartment, they gained a ‘Permanent Resident’ Visa which has allowed them the freedom to come … to stay or go.

Real estate agents and analysts say enquiries and sales are on the rise from Chinese and other foreign buyers. 

Despite the supply of homes not meeting the current demand and needs of Australians, why is the Morrison Government allowing overseas competition for our homes?

The property sector is no doubt loving this …

Prior to the Pandemic foreign buyers particularly from China were able to take advantage of a range of temporary visas that invited investment in our real estate to gain Permanent Residency.

They were able to buy an apartment online through, for example, Juwai, and gain a ‘Permanent Resident Visa’ which has enabled them to buy our detached homes and avoid the ‘investor taxes’!  During the Pandemic we have learnt that real estate agents have had Chinese buyers on the phone or online seeking and buying up our homes sight unseen!

In the late 1990s the Howard Government introduced the changes to our immigration policy for the Chinese middle class to embrace the offer of “flexible citizenship” in return for investing in property and education … this led to home prices rising in the early 2000s and the 2004 housing price boom.

How humongous is the amount of real estate owned by foreign buyers? Do they – meaning the Australian Government – know the level of assets in foreign ownership?

There is now a ‘Register of Foreign Ownership of Australian Assets’ … but is it retrospective?

Read more!

https://www.lavan.com.au/advice/property_leasing/the-register-of-foreign-ownership-of-australian-assets

AND … Australia now has the ‘Foreign Investment Reform (Protecting Australia’s National Security) Act 2020 (Cth) …  amended the Foreign Acquisitions and Takeovers Act 1975 (Cth) (FATA) to (among other things) give the Treasurer powers to address new and emerging national security risks.

Read more!

https://www.lavan.com.au/advice/property_leasing/national-security

Oh, good, but what of the security of home ownership for the Australian people not only being confronted by huge price hikes during 2021 which were said to be a consequence of very low interest rates, a housing supply shortage but …

SQM research managing director Louis Christopher said it had been an “extraordinarily” strong quarter.

“It was … driven by a multitude of factors, particularly government stimulus,” he said.

As with the First Home Buyer Grants which led to house price increases!  It seems that once again such offers benefit the property sector, and NSW Government stamp duty coffers.

“This has been the most rapid acceleration of house prices over a single quarter since Domain records began in 1993.” (reported 29 April 2021)

Read more!

https://www.abc.net.au/news/2021-04-29/nsw-house-price-growth-rockets-to-new-median-high/100102492

So with the government spin particularly in NSW until now and the Delta strain of Covid-19 … its much-lauded contact tracing system that we had *controlled the Pandemic, was this perhaps to entice more overseas buyers to buy up our large homes and land creating even more competition for this limited housing stock?

And as the Real Estate Gatekeepers are exempt from the second tranche of the Anti-Money Laundering Laws (Morrison Government October 2018) it looks like Australians will readily be outbid again!  

Some homes may not even appear advertised on the real estate websites

It is now mooted that ‘Australian property is likely to be a more attractive option for overseas buyers’ but what is not conveyed is that they can buy online to gain the PR Visa to fly in when the borders reopen.

The peak of Chinese investment of almost $32Bn was in 2015-16 which led to a house price rise with suburban homes selling for $1.5M which happened to coincide with a visa and $1.5M investment.

Monika Tufounder and director of Black Diamondz Property whose clients are mainly Chinese citizens with Australian residency working and living abroad predicts that when the borders open they will flood back in … some are seeking $10M plus homes, but will they be seeking our detached homes with large land lots in green suburbs too? Hm … . Not only will they continue to come from China but Singapore, Hong Kong, the United States (Canada too?) and the United Kingdom. 27 of the 29 Sydney properties listed by Black Diamondz sold recently.

Once again the ‘exchange rate’ is in their favour!  With Australian housing more reasonably priced than Japan, London, New York, Beijing and Shanghai!

These $20 – $30M buyers having made their offers are holding off to exchange when they can return to see the property.

The pattern is repeated in Melbourne’s eastern suburb of Box Hill, where sales and marketing director, CBD Development, Ricky Chen is seeing enquiries pick up again for a mixed-use high-rise development with hotels and retail space. They are seeking larger apartments to live in, to retire in Australia or to send their children to study.

Martin North, principal of property research firm Digital Finance Analytics, also notes ‘there’s been a swing away from foreigners looking to invest to people wanting to move here.’  And that they are more interested in buying land and larger properties!

Read more!

https://www.abc.net.au/news/2021-07-02/chinese-overseas-buyers-australia-property-housing-investors/100259470

And as CAAN has previously shared with you they are accompanied by parents, grandparents, guardians or a group of people buying together … in some suburban apartment developments for instance in Asquith they buy a whole floor!

There are a range of Visas facilitating this including Parent, Grandparent, Family, Student, PhD Student, Guardian …

This time Martin North predicts more competition for standalone houses, the top end of the market and large properties with land.

WHAT A FRIGHTENING PROSPECT … the competition for homes this year has been staggering with 100 or more people lining up for Open Home Inspections … Auctions held within two or three weeks … or Pre/Off Market Sales where buyers on one inspection have to make an offer or miss out!

WHERE IS THE DUTY OF CARE BY THE MORRISON GOVERNMENT? 

IN VIEW OF THE HOUSING SUPPLY SHORTAGE WHY IS THIS GOVERNMENT ALLOWING FOREIGNERS TO BUY UP OUR HOUSING STOCK?

HOW is this government on your side? 

Cashed-up Chinese Buyers swarm Australia’s Housing Market with their sights set on Major East Coast Suburbs

Juwai lists Melbourne, described as a 'city of opportunities and fortune' as the best city for investment, notably because of 'strong government support' for overseas buyers
AAP Image shared from ‘Cashed-up Chinese buyers swarm Australia’s Housing Market … ‘

CONTRARY to reports from other media outlets JUWAI alleges that cashed-up Chinese buyers are flocking back at 51% to Melbourne, Sydney, Newcastle and Brisbane

Housing price hikes have fuelled FOMO in China … just what we need …

HOW can this be so with our borders closed?

OR are they lay-buying our real estate? Having gained a PERMANENT RESIDENT (PR) Visa on purchase

AND they have their Onshore Proxy here … rels, and friends …

HOW can this be stopped?

SHOULDN’T SCOMO follow New Zealand’s lead and stop foreign buying of our real estate?

That has increased the supply and reduced prices in NZ for their people!

READ MORE!

https://gmnewshub.com/cashed-up-chinese-buyers-swarm-australias-housing-market-with-buyers-rocketing-by-50-per-cent/?fbclid=IwAR25MSmqEb_U8-uYmk9XhdJZEj7vC7_Gdi0h6PoKIwu6MMlZ2-y0hRm2Ixk

The LNP … its Culture …

No photo description available.
Image: Wikipedia

THE LNP

IS it the philosophy that lies at the core of its insidious culture …?

“We are on your side. If you have a go in this country you’ll get a go. That’s what fairness in Australia means.”

And how the Liable Nasty Party achieves this ‘for some’ is through PORKBARRELLING to ensure they win ‘those Coalition or Marginal Seats’

And granting far more to Private Schools!

As revealed in this Report! ‘Privilege over policy’.

Over the decade, private school funding up by $2,164 per student, adjusted for inflation, compared to $334 per student for public schools. Both states and Feds responsible’

VIEW: ‘Tudge butchers Public School Funding’

READ MORE!

And that is how ‘you get a go’ over others who too want a go!

IS it Sc.mmo’s belief that it is only the property and mining sectors that allegedly keep our economy strong?

Before entering politics SM wrote the policy for the developer lobby, The Property Council of Australia … did that lead to his annointment? You think?

‘The single biggest property donor last year (2020) was Sugolena, a private company set up by Isaac and Susan Wakil, who came to Sydney after World War II and assembled a portfolio of empty buildings across the city.

The couple sold their properties in 2014 to raise $200 million for a charitable foundation. While Sugolena had no history of substantial donations, the company, led by Mr Wakil after the death of his wife three years ago, gave $4.1 million to the Liberal Party in the weeks before and after the May 2019 federal election.

Read more!

‘Competitive advantage’: Call for curbs as property sector ramps up political donations

https://www.smh.com.au/politics/federal/competitive-advantage-call-for-curbs-as-property-sector-ramps-up-political-donations-20210126-p56wva.html

Has this sector played a role in ensuring that 100% of ‘new homes’ could be sold to foreign buyers … to create a World-wide market particularly in China for Australian homes? (FIRB Ruling)

And hence the high-rise tower precincts now on every horizon across Sydney … the congestion on our roads … our trains, buses and schools all full-up!

IS that how ‘you get a go’ over others who too want a go?

2021 … The Australian Housing Market is Exploding

2020 … there was a lull with Covid and the withdrawal of buyers from China now replaced by an accelerant …

‘ … The accelerant for this fire is being splashed by other arsonists – the government and the Reserve Bank, with miniature interest rates, grants, negative gearing and the capital gains tax discount.’

Alan Kohler: The housing market is exploding again

NOW … there’s more …

WITH First Home Buyers and investors taking on large mortgages at record low rates … but for how long?

AND a housing shortage has led to this price explosion!

IS it Sc.mmo’s belief that it is only the property and mining sectors that allegedly keep our economy strong?

THAT despite the advice of Economists that lifting wages, lifting JobSeeker above the poverty line would ensure more money would flow and boost our economy … the Liable Nasty Party persists with the lowest wages growth for some 60 years … has allowed temporary migration on these low wages (cash in hand) with the lure of ‘Permanent Residency’ ensuring high unemployment for Australians esp. our Youth

By selling off our Public Assets to the ‘Mates’ … and privatising Services

A mean and tricky grubment …

READ MORE!

‘Dennis Atkins: When Scott Morrison says he’s listening, it’s only to himself’

https://thenewdaily.com.au/opinion/2021/03/27/dennis-atkins-morrison-truth/?fbclid=IwAR2jSYmTLqRA3-Wv-FE4aqndhZwBGd1-7Yy-1VTfUKrMJQQu6PrFEw6HwGk

The Liable Nasty Party promised to deliver 4 Million Covid Vaccines by the end of March 2021 … yet only some 700,000 have been vaccinated so far … how safe is that?

The Sc.mmo Govt silently in late 2020 Ranked Visas for UHNW Foreigners

The Morrison government quietly began prioritising Visas for ultra-wealthy foreign investors late last year

CURRENTLY we are being distracted by ‘The Boy in the Bubble’

AND on Women marching for Justice … we heard:

“Mr Speaker, not far from here, such marches, even now, are being met with bullets, but not here in this country, Mr Speaker.”

ARE we in Toad territory?

ARE you aware that this government favours Ultra High Net Worth foreigners flush with cash over all others?

Apparently the Sc.mmo government quietly began prioritising VISAS for UHNW foreign buyers in late 2020!

• to prioritise investor visas over those of foreign workers in critical sectors during the pandemic

Allegedly to inject these foreign funds into our economy

-increased the cap on investor visas with approval times slashed

-with an influx of foreign property buyers

-then Immigration Minister Alan Tudge directed Home Affairs to prioritise investor visas; those with $5M to invest conferred top status; to fast track to Permanent Residency

-Home Affairs employees instructed to secondarily assess those with $1.5M or more along with Business Innovation and Investment Program Visas (BIIP)

pandemic 408 Visas to maintain personnel e.g. in healthcare are secondary to investment

government doubled annual cap for investor visas from 6,800 to 13,500

MEANWHILE40,000 AUSTRALIANS REMAIN STRANDED OVERSEAS!

Juwai IQI reported in 2019-20 more than 1500 applicants; China and Hong Kong 88.5% of Significant Investor Visas

-despite the talk of innovation and business investment it is the Australian property market that draws foreign attention

REMEMBER … Sc.mmo wrote the policy for the developer lobby, The Property Council of Australia prior to entering politics

-in the rising market these foreign investors are gaining residency; many coming all at once with PR Visas granted in record time!

-without the PR Visa these foreigners have to pay stamp duty; get FIRB approval; for properties of $6 – 8M equates to $500,000 in fees

READ MORE!
https://www.businessinsider.com.au/australia-signficant-investor-visas-wealthy-property-market-2021-3

MEDICH FAMILY pockets $499,950M from Badgery’s Creek Bonanza!

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MEDICH FAMILY POCKETS $499,950M FROM BADGERY’S CREEK BONANZA

-Medich Family’s 344-hectare land parcel at Badgerys Creek transacted for $499,950 million. Medich brothers purchased the Badgerys Creek site from the CSIRO for $3.5 million in 1996.

-2017 the sale of the Badgery’s Creek land to BOYUAN Holdings Limited (BHL) contingent on FIRB approval; deal did not go ahead

-THE BUYER entity named ‘Roberts Jones Bringelly’ whose directors include CHENG JIA PAN and BO GONG. THE BUYER also purchased 73 hectares of MEDICH land in Bringelly for $77 million

– Roberts Jones Bringelly has appointed BHL as the development agents for the project

-the Elizabeth Drive site to become a major employment, logistics and mixed-use precinct servicing the Airport and greater Aerotropolis

BUT what does this really mean for Australia?

READ MORE!

Foreign activities … raising some Eyebrows in Federal Opposition … ASIO and Government Ranks!

Melbourne-based Chinese businessman Huifeng "Haha" Liu.

Liberal Party donor Huifeng ‘Haha’ Liu ‘engaged in acts of foreign interference’: ASIO

ABC Investigations

By Sean Rubinsztein-Dunlop and Echo Hui

‘A Liberal Party donor who developed relationships with federal Assistant Treasurer Michael Sukkar and MP Gladys Liu engaged in “acts of foreign interference” and activities for Beijing, according to Australia’s domestic spy agency.

The bombshell findings by the Australian Security Intelligence Organisation (ASIO) are contained in Melbourne-based Chinese businessman Huifeng “Haha” Liu‘s court application to fight the Federal Government to avoid deportation.’    …

Federal Opposition legal affairs spokesman Mark Dreyfus, a member of Parliament’s intelligence and security committee, called on Prime Minister Scott Morrison to come clean on the Liberal Party’s ties to Mr Liu, in response to ASIO’s “deeply disturbing” findings.

“The real question is how long has Mr Morrison known that a donor to his party and a man connected to Gladys Liu and to Michael Sukkar has been identified by ASIO as an agent of foreign interference?” he asked.

“Gladys Liu and Michael Sukkar need to explain what their links are to Haha Liu.

“Mr Morrison has failed to hold his MPs to account but it’s now obvious he can’t just brush this one under the carpet.”

READ MORE!

https://www.abc.net.au/news/2021-03-12/asio-assessment-revealed-in-haha-liu-court-application/13234740

Chinese takeover of island near Australian military training area causes unease inside defence and government

Exclusive by defence correspondent Andrew Greene

A decision to grant a Chinese linked company a mining licence on a remote West Australian island, close to a military training area, is raising concerns inside Defence and federal government ranks.

Key points:

  • A Hong Kong-based company was last year granted a 12-year lease of abandoned mining operations on Cockatoo Island
  • The Foreign Investment Review Board examined the deal, but security officials have privately expressed concerns
  • Liberal Senator Concetta Fierravanti-Wells says the leasing to a Chinese linked company shows current laws are “defective”

In October, the private Hong Kong-based entity was announced as the new owner of abandoned iron ore operations on Cockatoo Island in WA’s Kimberley region, next to the Yampi Sound Defence Training Area.

A map of the Kimberley region, highlighting Cockatoo Island.

READ MORE!

https://www.abc.net.au/news/2021-03-12/chinese-island-lease-on-remote-wa-island-causes-concern/13240282

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