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When Tanya Plibersek was Australia’s housing minister under the Rudd government, Labor relaxed FIRB rules for foreign buyers, including:
- Allowing temporary residents to buy established dwellings without prior FIRB approval
- Raising monetary thresholds for screening
Plibersek argued at the time that these changes were justified to support housing demand during the GFC.
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About the author
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.
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