THIS WEEK, Scott Morrison announced his new cabinet. Given that Australia just re-elected the most corrupt and incompetent Government in Australia’s history, the fact that a few bagmen, shysters, miscreants and the inept got guernseys should come as no surprise.
It’s often been said that Coalition Ministers deliberately act against the interests of their respective portfolios, but seldom have the selections been so blatant. Let’s look at a few of them.
When Scott Morrison skipped out the doors of the Property Council of Australia (PCA) in 1995, where he had spent six years cutting his teeth as a spinner, lobbyist and propagandist, he landed in the tourism sector. Specifically, the Tourism Task Force (now the Tourism and Transport Forum) — a lobby group that in many ways mirrored the PCA.
For the next 12 years, he would switch between various roles in peak and government-run tourism bodies — and a brief unsuccessful stint in private practice — and the Liberal Party of Australia.
In among a string of election campaign failures, Morrison had a regular habit of leaving or being pushed out of jobs before his contracts were finished.
There were two stints that have, perhaps understandably, been scrubbed from his Wikipedia page.
The first was a period at big four consulting group KPMG in 2000, where he was attempting to start up a tourism practice. The second was an ill-fated turn as the strategic director for the campaign of New South Wales Liberal leader Peter Debnam during his failed 2007 election bid.
A self-styled “marketer” (he actually has a Bachelor of Science in applied economic geography from UNSW) Morrison instead hired others to do the marketing work, according to a number of people that worked with him in his various tourism jobs, while he focused largely on the NETWORKING.
This networking brought him into contact with Liberal grandees who promoted him ever higher, until he landed in — or rather was parachuted into — federal parliament in 2007.” …
‘Morrison is now a Pentecostal and thus part of the most rapidly growing denomination in the land. He worships at an American-style mega-church called Shirelive in his constituency, where the gospel of * prosperity is preached in an auditorium that can accommodate over 1000 evangelicals.
With its water baptisms and designer-shirt pastors, Shirelive has close ties with the better-known Hillsong community. The founder of Hillsong, Harley Davidson–riding pastor Brian Houston, is one of Morrison’s mentors.
In Who’s Who Morrison lists the church as his number one hobby, and his maiden speech reads in part like a personal testimony delivered on the last night of a church retreat. It included passages from Jeremiah and also the Book of Joel: “Your old men will dream dreams, your young men will see visions.” ‘
CAAN takes a look at: ‘Semi-cooked’: Property sector asks new minister to rethink predecessor’s reforms
AND it would appear what the Property Council of Australia NSW Executive Director Achterstraat is really saying that with open green space, more liveable apartments, and sustainable design that there would be le$$ in it for them …
AFTERALL it was Roberts – when Planning Minister for the first time – in a forum in September 2018 who delivered this ‘snow job’:
“overdevelopment does not exist, infrastructure failure exists”, and Sydney’s “bumbling planning history” meant infrastructure and services needed to meet or exceed housing growth.
SO with this reappointment … it’s back to OVERDEVELOPMENT … and if the ScOmO grubment returns in 2022 the World will be flying in to exhaust ‘the supply’ …. creating more demand …
We repeat: It was ScOmO who wrote the policy for the Property Council of Australia prior to entering politics
Rather than Sydneysiders benefitting from Stokes ‘Design and Place state planning policy’ with apartments allowing for working from home, more access to green spaces and cycleways (liveability)
That was the angle taken by Journalists, Matthew and Lachlan on Monday, 14 March 2022
And “Key Workers can’t afford Sydney Homes”. The reality is this at least dates back to 2016 …
HOW come highly skilled Key Workers are not paid enough to afford a home within proximity of where they work?
Those among them – predominantly couples – who manage to scrimp and scrape up a deposit for a home are finding it 30 … 60 …. 80 … 90 Kms distant from where they work!
To then have to work long hours … and even a second job to maintain mortgage repayments …
Key Workers including our nurses, teachers, police officers, fire fighters, paramedics – to name a few! Plumbers too can’t afford to buy a home in this market!
And does it also seem that housing is priced far too high for what one gets?
Obviously this is a failure of GOVERNANCE!
WHY do the deve-loper lobby groups like the Urban Taskforce, the Property Council of Australia and others hold so much sway over the Liberal Party in NSW? … Well we have been spelling that out for some time now … the financial backing that the Liberal Party enjoys comes in many forms including by issuing invitations to wealthy party members, and corporations to attend lavish Liberal Party lunches and dinners for thousands $$ … grassroot donations from party members and individual supporters through membership fees, subscriptions and small donations … even multiples of small donations!
But it would appear donations from Big Business including developers, and deve-loper lobby groups, mining, hotel chains …. have inflated party coffers the most …
Recently Anthony Roberts has been reappointed as the Minister for Planning and Homes … why was Robert Stokes moved on from 5 October 2021?
We had not heard much from AR for some time …
IT would appear that Roberts has enjoyed a very good relationship with the property titans …
These articles, it would seem, reveal how mutually beneficial this relationship could be perhaps!
‘The Semi-cooked Property Sector asks new Minister to rethink Predecessors reforms’
And it appears this pro development government will enable developers to increase their profits by reducing their infrastructure contributions (levies) to the communities from which they make their money!
At a time when the NSW government is under fire on the issue of “overdevelopment”, NSW Planning Minister Anthony Roberts launched a new pro-developers group headed by his friend and former campaign manager Bill Pickering, featuring developers set to benefit from the government’s new “priority precincts”.
Note Bill Pickering was a former Liberal Councillor and Mayor of Ryde
‘Greens want Donation Reform after a look at Minister’s Diary‘
– The Fifth Estate: 2018
Meriton (Apartments and Property Services) has donated $226,000 since 2010, and met with the minister four times this year. The Property Council of Australia has donated $65,290 since 2010 and met Mr Roberts once this year (though the PCA decided to ban all donations to governments at all levels from October 2016), while Toga Group donated $93,000 to the federal branch, and also met the …
Note “NSW planning minister Anthony Roberts met with 53 property developers or property interest groups between January and September this year, but not a single ordinary resident, new information released by the Greens shows.”
In Sydney and You’re pretty well set for life: Housing Minister Anthony Roberts
Today Roberts was spruiking alongside Mirvac. Mr Roberts spoke of ‘benefit from higher prices; they can be beneficiaries of the increase in the value of their property.’
‘The 21 new NSW Strata Laws you really need to know‘
The big ticket item in the strata law changes, the government prefers to call this “collective sales” but it basically means that 75 per cent of owners can compel the other 25 to do something radical with a building that may or may not be well past its use-by date.
1. Redevelopment: Just 75 per cent of owners can vote to sell the strata block to developers for demolition and replacement with something bigger, shinier, safer and more expensive. Currently only one dissenting vote can stop this.
WHO in their Right Mind would allow the Government to have EQUITY in their Home?
IN the SMH today this piece, “New hope for first-home buyers in return for giving STATE some equity”
HOWEVER … it seems the Community are onto it!
THESE are their views on Social Media …
WOULD this be about boosting demand and increasing prices? Cough … cough … Who would be the winners? Would that be deve-lopers, and existing owners? Especially investors
EQUITY GONE! Welcome to NSW … the equity state … for some …
AND allowing for the Status Quo to remain … by sweeping under the carpet the real causes of negative gearing … capital gains tax … super low interest rates … government grants … franking credits …
AND we must not forget the ‘Big Australia’ with millions having come to our shores seeking Permanent Residency by buying a home … these numbers increase competition … pushing up prices!
AND ‘Hot Money’ is awash in the Australian Housing Market … the second tranche of the Anti-Money Laundering Laws for the Gatekeepers was shelved for more than a decade, and then the Morrison Government exempted the Gatekeepers in October 2018 …
REMEMBER just a few months ago when this was just a conspiracy theory … Now they’re talking about parents ‘giving’ equity to the government to help their kids buy a home … and both could end up owning nothing …
This is #socialism from what claims to be a #Liberal government, and would be the beginning of the end of private property ownership.
The State Government becoming a lender won’t help affordability. It will simply push up prices and mortgage repayments more. These increased repayments will push people out of the market, and lead to more defaults in the market!
So, basically we’ve spent decades distorting the property system, and now we’re going to make it worse for you to keep those property prices juiced. #auspol with a tax handout to home owners. Isn’t this Peter Costello’s policy all over again?
The Liberal Coalition particularly with the Howard Government in the late 1990s have been distorting the property system by enticing the Middle Class Chinese to invest in our housing to gain ‘Flexible Citizenship’, and this led to a housing boom in the early 2000s peaking in 2004 … and again from late 2013 with a large range of temporary visas allowing wealthy foreigners to buy ‘new homes’ to gain a Permanent Resident Visa. This boosted demand from this high population growth
Increasing 👏 demand 👏 does 👏 not 👏 reduce 👏 prices.#auspol
Dom_Perrottet Chairman of the Peoples Republic of State Owned Private Property. #Sydney so toxic that state intervention in the property market is the new way of subsidising #LNP donor developers
AND this Scheme raises the question:
How many of these ‘give people money to buy a house’ policies are the government going to try before they admit that they just drive house prices up further?
WHAT a “Proper Government” would do … would be to start with funding Public Housing
Oh the things they’ll do rather than release more land, neuter councils, etc.
CAAN: However, if and when the Government releases more land the Feds must desist with high immigration because what is the point of releasing more land for housing as they maintain the overseas competition? Oh, how silly of us … they want to maintain the competition to jack-up prices … and …
Until negative gearing and money laundering is jettisoned, housing will be expensive. This “idea” is S.H.I.T.
Government is doing everything they can to get people into the market. Now they want to be an equity partner with First Home Buyers who can’t afford to get in!
. Banks won’t wear it, if borrower defaults then they want all the equity including parents share! Game changer should be non recourse loans as in the US. Banks would then behave!
WHO is Australia’s leading Migration Agent? With increased foreign buyer competition, and ‘Hot Money’ pushing up home prices …
Mr Triguboff in the AFR (2017) in response to the then oversupply of apartments said:
“Then I will bring in more migrants”.
And also this article!
HOW does Meriton hold so much sway with the Federal Coalition?
From the property development sector: “The largest single donor was property developer Meriton donated $285,000 to the Liberal Party, including a $200,000 donation to the NSW branch of the party.” Search for Michael West: ‘Quid pro quo: donations data shows billionaires and corporations fix politicians for another year’
THE latest PRECINCT PROJECT is with MERITON resubmitting plans for its controversial Macquarie Park Site along Talavera Road.
The initial proposal which featured a 63-storey tower, was rejected by the council after 400 public submissions opposed the development.
MERITON has now resubmitted plans for towers of: 59, 44 and 37 storeys alongside its ‘Destination’!
“We are also now seeing the re-emergence of overseas students, investors chasing stronger yields and migrants back into the country.” Triguboff said.
With increased competition, and ‘Hot Money’ pushing up home prices …
READ MORE! Meriton Resubmits Plans for Controversial Macquarie Park Site
At the end of last year only a handful of homes – mostly tiny apartments – were priced at or near $800,000, the price cap for Sydney buyers using the federal government’s first home loan deposit scheme –
SO we at CAAN have come up with some suggestions for aspiring First Home Buyers and the Bank of Mum and Dad and …. and the only hope we have is for the voting public to WAKE UP and get rid of this current lot in government who are only looking after the CAPITALIST narrative. They have lost the plot, they are CROOKS, and SHYSTERS!!!! ….
Every policy is contrary to the policies that were put up by the Opposition, and here we are wondering what on earth we have done to housing affordability?
,… it is OUR FAULT. WE PUT THEM IN!!!…. Remember the GST???,…the NEVER EVER GST?? … Well we got it,.
WE VOTED FOR IT….(we DIDN’T…by the way) others did ……. and it has been the worst tax ever to burden the poor.
INFLATION is UP and RISING. More about how the RBA addressed inflation from Alan Kohler:
We need a change in government, and for the new government … LABOR … to get in and do a BACKFLIP!!!!!
As the HOWARD GOVERNMENT used to do … LIE after they get in …. but this time it will be for GOOD intentions …. GET RID OF TAX PERKS and increase TAXES on the wealthy, and those that earn more than the poor mug next door, and indeed implement the policies they put up at the last election. It is up to us to BACK THEM and give them the SUPPORT and tell them what we want!
However, if the constituency puts Sc.mmo back there is absolutely no hope!
We know who the leader of the pack (deve-lopers) is … it loves Australia … and buyers who fly in … and buy and …
The combination of almost zero borrowing costs, higher returns than cash or shares, and untaxed capital gains makes this farce unstoppable. Even though it is a gross distortion both of markets and social justice.
COMMENTATOR: Not one major party has a policy to deal with rampant house prices and rental inflation. Vested interests are in charge.
CAAN: We would say, the LABOR party put policies on the table last time in an effort to do something about housing inequality, but was lampooned by a tsunami of campaigns that MISREPRESENTED the facts.
Now, understandably they have walked away …. and appear not to have the constitution to re-visit the policies that are so desperately needed to fix the issue. It is a very sad situation we are in!
Read more about ‘The Sydney suburbs within reach of First Home Buyer Budgets’ … FHBs will have to get in quick before House Portfolio Investors outbid them!
What can you do about this? A good start would be if you were to share this to help turn things around through more awareness about how Our Youth have been done over!
….CRY FOLKS, Sydney is out of control and is affecting the rest of the country. Australia, an island country, close to the South Pole, should avail the cheapest housing!
Instead, has the most expensive housing market in the world.
WHY? … The list of reasons is long, and getting longer, negative gearing, Foreign $$$$$$’s, 50% reduction in CGT ,… Family Trusts, property spruikers, and various others, including a cultural shift towards housing as a means of wealth creation, we’ve gone BONKERS …….. MAD.
Interest rates are too low, and have been for too long. It all favours those with COIN, it is as simple as that.
The wealth divide is HUGE, by pure virtue of the HOUSING MARKET. ****
IT IS CROOK****.
Those making the decisions on interest rates have been on the side of the INVESTOR and obviously, anyone with LOADS OF $$$$$$$$$$$’s, and they haven’t a clue what to do now, least of all the constitution to fix it.
Interest rates must be raised, and they must be raised DRASTICALLY for INVESTORS.17.5 % sounds like the shot…...
…. that would make a difference! A quick fix alone.
And the implementation and enforcement of the second tranche of the Anti-Money Laundering Laws would make a big difference …. currently a whole Cohort of our Youth are locked out to face life-long tenancy because of this …
This ‘Hot Money’ Market has been facilitated through temporary migration and visa manipulation with foreign buyers lured by the prospect of buying a home to gain a “permanent resident visa”!
Which government exempted the Real Estate Gatekeepers from the second tranche of the Anti-Money Laundering Laws? The Sc.mmo Govt in October 2018 …
Today in a report in the SMH: ‘Developers slam state government for favouring urban sprawl over tall towers’ Urban Taskforce chief executive Tom Forrest alleges that the State Government has presided over a “dramatic downturn” in high-rise approvals and “there was a clear preference for greenfield development”. And defining those opposed to high-rise residential apartment towers as selfish and myopic.
WHO are selfish and myopic?
NOT DEVE-LOPERS who landbank, and per$uade some like-minded councillors to rezone for higher density developments robbing the neighbourhood of its amenity … to build storey upon storey … as high as 40, 60. 70 storeys … to make a motza?
AND market their ‘new homes‘ to South East Asia esp. China, Singapore, Malaysia, India et al?
WHAT would bring about a downturn in high-rise approvals?
That would not be a consequence of high-rise falling down, would it? … Yet despite this so-called downturn more high-rise precincts are underway in Macquarie Park, Carlingford, Epping, Lidcombe, Parramatta and … across the Central Coast. But this Mob always want more … far more …
WHAT areSydney’s other defective towersaside from the Opal Tower, and Mascot Towers?
To list somethat come to mind …
–‘Aya Eliza’, 93 Auburn Road, Auburn … its developer, Goldenia Developments, and sole director Merhis has been handed orders to fix its serious defects!
-2 Parramatta apartment towers by developer Merhis Group in the CBD and Hassall Developments issued with a prohibition order
–Centenary Park, 81-86 Courallie Street, Homebush West, Sydney.
–World Tower by Meriton
–45 Bowman Street, Pyrmont, Sydney; cladding
-another high-profile construction group, Ganellen, placed one of its companies into administration , midway through a court battle over defects
–Icon Construction Australia (NSW) Pty Ltd was placed into voluntary administration in November.
-Named as a “related entity” to Icon Co (NSW) Pty Ltd, The former of the companies is being chased over alleged defects in apartments it built at Rosebery, Waterloo, Hurstville, Bondi, Lane Cove, Greenwich and Five Dock.
CAAN copies here some Tradie comments about the Building Industry in July 2021 …. we will include them anonymously …
-“I left the building industry when I went to do the underfloor plumbing of a house to find the pad was half poured, when they realized they stopped and tryed to put big foam blocks in in the hope US plumbers and electricians could dig them out and do our services. Vorticon plastic had to be breached it was the biggest mess I’ve seen I feel so sorry for the owners I wish I could have told them. I did one apartment block, when I arrived they showed me a system for sewer that was noise resistant. They showed me the pipe bracketing and I couldn’t understand the concept the pipes were loose in their bracket this could only create noise. A dampener was on the pipe 300mm up from the bracket it was meant to sound absorb but was installed incorrectly. They gave me a brochure on the product and I came in the next day and taught them that the shock absorber was meant to be mounted directly above and on the sloppy brackets acting as a absorber so noise wasn’t transmitted through the bracket fixing creating noise when water went down the stack. They couldn’t believe it they always wondered how it worked and I showed these people who installed this product for 2 years wrong and it passed the plumbing inspectors eyes every time and the building inspector what a joke. They then pointed to the 100 apartment block across the road and said that job was bracketed in sloppy bracket with 2mm play rattling around every time someone used the toilet. Ignorance is bliss my stories could go for ever its embarrassing to be involved in construction.”
-“Being a boilermaker for the past 22 years I can tell you these days the quality is gone, imported junk not enough checking or inspections etc.extremely dangerous and a lot of ticking time bombs all over Australia.”
-“Don’t blame builders, blame poor regulations that allow them to do what they do”
-“To restore buyer confidence in a soft market”. What kind of prescription painkillers allows you to see this as a soft market? It’s still too hard for young people to jump onto the propery ladder, or rather, elevator. Why am i calling it an elevator? Because it’s moving up so fast that old players get better whilst new people can’t get a grip.“
-“nobody should be allowed to buy off the plan. people should buy only when buildings are finished and inspected. let us remember those buildings at olympic park and near the airport, the last one built by aland, aland refuses to fix it and people lost millions and millions.”
SO what is the cause of the collapse in housing supplyand massive rise in House Prices?
HAS the NSW Government reached its limits with deve-lopers infrastructure of roads, sewerage and fresh water? What an incredible proposition that this alone is the cause of the collapse in housing supply and massive rise in housing prices?
APART from government grants, and low interest rates, and increased competition from investors, the PRICE HIKE, of course, has nothing to do with the competition from the overseas marketing, visa manipulation, and Hot Money awash in our real estate … because the Real Estate Gatekeepers are exempt from the Anti-Money Laundering Laws …. cough … cough …
IS this report from the Urban Taskforce, ‘Standing Tall‘, to be believed when an earlier report in The Conversation by Jago Dodson: ‘The Carbon Devil in the Detail on Urban Density’ refutes what the UT puts:
“Alan Perkins and colleagues’ work in Urban Policy and Research, for example shows that on per-capita analysis, attached low-rise dwellings perform best in terms of CO2, with suburban and high-rise successively worse.
Such patterns arise because any valid assessment must account for all energy use. This includes energy ’embodied’ in a building during construction, plus energy used in ongoing operations. While residents of detached houses use high levels of energy to get around, because of their greater car reliance, their overall energy use per capita tends to be lower than high-rise residents.
This is because detached dwellings can consume less embodied and operational energy and that use is divided among a higher average occupancy rate (detached dwellings generally house more people than apartments).
The relationships between building type, urban form and CO₂ emissions become even more complex when income – or “lifestyle” – factors are included in the analysis. But it seems that high-rise urbanism exacts a high carbon cost.
The Australian carbon consumption atlas, prepared for the Australian Conservation Foundation by Chris Dey of the University of Sydney and colleagues, provides a striking illustration of this pattern.
Their work shows the highest per capita residential environmental consumption occurs in the higher density inner urban areas of Australian cities. The 37 tonnes of total CO₂ consumed per person each year by downtown Sydney residents is, for example, more than double the 16 tonnes produced by residents of Blacktown. There’s a carbon devil in the detail on density.
Such findings fundamentally confound the simple “high density good, low density bad” assumptions in current debates. High-rise apartments are far less of a solution to our urban environmental challenges than the prevailing consensus suggests. Even if better design could improve high-rise performance, so too could it improve that of other building types.”
WHY would UT push for more High-Rise? Why would they want 34, 58, 60, 70 Storeys?
WHY … because storey upon storey they make a hell of a lot more, and they can source their buyers from across the World … no matter that this is the ‘driest continent on Earth’ …
Associate Professor Philip Oldfield, head of the School of Built Environment at the University of NSW:
“In general taller buildings require more materials, and so have a higher embodied carbon,” he said. “They often rely on mechanical airconditioning, and have all-glass facades, so can have higher operational emissions as well.” …
Further, that there is an obvious profit motive for developers.”
WHO has been selfish?
Developer Lobby Groups, The Urban Taskforce and the Property Council of Australia and those allied since 2011 and particularly since 2013 with the Federal Liberal Coalition, and through the Foreign Investment Review Board ruling that allowed them to sell 100% of ‘new homes’ to foreign buyers … locking out Australian First Home Buyers …
SO why was the second tranche of the Anti-Money Laundering Laws for the real estate gatekeepers shelved for more than a decade and then the Morrison Government exempted real estate agents, lawyers and accountants in October 2018 from these laws? If it were not to create a huge demand by allowing money laundering in Australia’s property market? And facilitating what appears to be a never-ending demand for high-rise?
THIS has meant not only are our families locked out by dirty money, but our quality of life has deteriorated with the loss of Our Heritage, and Our Urban Bushlands to make way for development. Our public transport, hospitals and schools are all full-up at Taxpayers expense!
Myopic … indeed Housing has never been more unaffordable since the introduction of high-rise, high density and high immigration. Boomers were never faced with 10 years or more to save for a home deposit! FFS!
AS Professor Oldfield said: “A strategy for Sydney should be significant amounts of new four-to-eight storey mid-rise, suburban intensification and strategically placed tall buildings where there is access to infrastructure such as mass rapid transit.”
HOWEVER, at CAAN we suggest what needs to happen is a reversal of the FIRB Ruling allowing the 100% sale of our homes overseas; a cut to migration to a more sustainable annual 70,000 permanent migrants; rather than luring 400,000 – 500,000 temporary migrants with permanent residency on purchasing a home … and then just maybe our Families could raise a deposit for a detached home on the fringes if they so chose … having been priced out by the Gatekeepers from buying a home in the suburbs where they grew up!
The NSW Government could then possibly catch up with the infrastructure to meet current population demands! AS the property sector returned to buildingquality homes to Australian Standards!
AND CAAN has taken a look at the like Report in the SMH …
WHY would the property sector be trying to Pull the Wool over our Eyes?
MEANWHILE all over Sydney and beyond there is much excavation and construction now underway …
WHO are these ‘new homes’ being built for? Cough … cough … as the media talks about the return of International Students … Visa Workers … and Migrants ….
AS our Families remain locked out … they still have not got a Pay Rise … there is talk of a 3% pay increase … three fifths of nothing … as the cost of housing continues to escalate … to be met by competing money launderers …
HOW long before Domain readers join the dots? Through media reports like this we have constantly been fed that foreigners can only buy ‘new homes’ or vacant land. So how come 85.6 per cent of the properties bought by foreigners were new dwellings or vacant land yet at the same time we read or view reports of ‘foreign buyers’ acquiring Harbourside mansions in and around Double Bay in Sydney and the North Shore, or Toorak in Melbourne or expensive inner-city apartments for their offspring … ?
AND many other reports that allege because the foreign buyers have left the Australian Housing Market due to COVID-19 that they were not the cause of the 2021 House Price Boom?
HOW much longer will the property sector be able to pull the wool over our eyes?
WHODA THOUGHT that Foreign Buyers of Australian Real Estate are no longer “foreign” once they have purchased an apartment under $1M and gained a“Permanent Resident Visa”?
COULD our Property Sector led government be turning a blind eye to this? HAS this got the SCOmochio paws all over it?
AND that these overseas buyers more than likely have avoided paying extra fees as a foreigner because they applied and gained a PR Visa prior to purchase?
THAT such avenues have enabled how many thousands of ‘New Residents’ to go on real estate buying sprees for Family members … their extended families … and laundering ‘Hot Money’ because they can … afterall the Australian Real Estate Gatekeepers are exempt from the second tranche of the Anti-Money Laundering Laws since the Morrison Government introduced this exemption in October 2018 …
DESPITE the fact that we are seeing before our very eyes that many suburbs across Sydney and Melbourne … and obviously Brisbane … the Sunshine Coast are increasingly being occupied by ‘new residents’ …
WHO are no longer ‘Foreign’ but newly ridgy-didge, and that the extent – no doubt in the many $ Billions of investment in Australian Real Estate – has been covered up ….
… and the ‘new residents are staying long term’ with the added Benefits of Australian Free Education and Medicare paid for by decades of Australians … Why wouldn’t they?
Not only are they from the PRC Mainland, but Hong Kong, Singapore, India, Cambodia, Indonesia and Malaysia … and despite the Pandemic and its repercussions for the Australian people and our businesses, property prices escalated by some 30% over 2021 … as we were fed that this was due to housing shortages … low interest rates … Government Grants – all too true!
BUT what the grubment did with the support of its allied media was to feed the populace with these alleged causes of the housing price spiral, and to minimise awareness of money laundering in our property market …
IT would seem with numerous reports in DOMAIN and elsewhere of ‘foreign buyers’ acquiring Harbourside mansions in and around Double Bay in Sydney or Toorak in Melbourne or expensive inner-city apartments for their offspring that AMP Chief Economist had to concede that it would be amazing if these overseas buyers were in fact concentrating on apartments priced at less than $1M …
IN FACT it appears they have it both ways!
AND what of the Australian Heritage Homes demolished, and the suburban ‘Estate Homes’ a mere 25 years of age or less that cost $1.5M or more shortly after sale are demolished? HOW many Australians would pay that sort of money to demolish? WHY wouldn’t they buy a $2M Plus brand new home in a neighbouring new estate? HOW likely this could be a ‘foreign buyer’ purchase enabling them to qualify for a Permanent Resident Visa when they build a ‘New Home’?
JUWAI – which is described as the #1 Asian and Chinese international property portal, offering exclusive access to an audience of high net worth Asian and Chinese looking to buy property – expects the Australian property market will see an upsurge of these overseas buyers by the end of this year! The avenues are student visas, international travel and inbound immigration.
Of course they are not speculative buyers who flip homes because they are buying Australian homes with benefits, and to secure the future for their families as ours are locked out! WITH even more ‘hot money’ awash in our property market … especially if the ScOmO Government is returned …
NEITHER Ray White nor McGrath, it would appear have any sympathy for the notion of AustralianSovereignty … all they appear to be interested in is pursuing wealth … no matter what!
QUESTION …. Would Expats number anywhere near the possible 4.6 Billion people/foreign buyers across Asia?