The Foreign Investment Review Board (FIRB) has released a detailed report, entitled Insights into foreign purchases and sales of residential real estate 2019-20, which shows that the number and value of purchases of residential property by foreign buyers has fallen sharply, whereas sales by foreign owners have risen:
Three year comparison of purchase transactions
Purchase transactions have declined over the three years from 2017 to 2018 to 2019 to 2020. There was a 19.5 per cent reduction in the number of purchase transactions in 2019–20 when compared to 2018–19. The value of transactions also reduced by 19.8 per cent in 2019–20 when compared to 2018–19…
The ACT, SA and Tasmania show an increase in purchase counts in 2019 to 2020 when compared to 2018 to 2019. The remaining states show an overall reduction…
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Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
