Australia’s Foreign Investment Review Board (FIRB) reported this week that foreign residential real estate approvals dropped significantly in the 2016-17 period.
Whereas 2015-16 saw 40,149 approvals granted, totalling A$72.4 billion, the figure for the following year was just 13,198 approvals, totalling A$25.2 billion. On these numbers, the foreign property investment boom looks to be over.
- ^ Chinese overseas direct investment capital controls (www.businessinsider.com.au)
- ^ Essays On Air: Australia's property boom and bust cycle stretches back to colonial days (theconversation.com)
- ^ inquiry (www.aph.gov.au)
- ^ more extensive and detailed data (dallasrogersblog.files.wordpress.com)
- ^ neighbourhoods or even individual (onlinelibrary.wiley.com)
- ^ Data from Sydney (www.tandfonline.com)
- ^ real estate investments (onlinelibrary.wiley.com)
- ^ Sydneysiders blame foreign investors for high housing prices – survey (theconversation.com)
- ^ quoted the demographer Bernard Salt (www.propertyobserver.com.au)
- ^ media coverage (www.news.com.au)
- ^ Our research (www.tandfonline.com)
- ^ Sydney Boom, Sydney Bust (www.amazon.com)
Authors: Dallas Rogers, Program Director, Master of Urbanism. School of Architecture, Design and Planning, University of Sydney