April 27, 2010 , Australia – According to the latest report, most of the foreign students and some of the residents are now experiencing new and tough rules upon buying new houses for sale and will have to sell on leaving the land down under. Recently announced by the Federal Government stated that these new rules have been caused by the reversed December 2008 decisions to relax the foreign ownership rules. In accordance with these new rules, the Government will also bring in the hotline for apprehensive locals to “dob in” foreigners they think of breaking the new rules when it comes to home constructions and dealing with home builders.
Included in the new rules, temporary residents and foreign students will be: Screened, Forced, Punished and Required.
From the Assistant Treasurer Senator Nick Sherry stated that they wanted to make sure that those foreigners will not put “pressure on housing availability for Australians. The changes would ensure that investment is in Australia’s interests and in line with community expectations”.
From this Government’s 2008 changes, as of today according to the latest data released the median house price in Melbourne has increased from $450,000 to $524,500.
Source: Herald Sun News
