88,000 homes owned by Australia temps
13 June 2015 by News Desk
Latest figures from the Federal Treasury reveal that 88,000 homes are owned by temporary residents across Australia.
NSW accounts for 26% and Victoria 25% of home purchases by temporary visa-holders. Western Australia accounts for 22% of the housing market for temporary residents.
Queensland has 19% followed by South Australia with 4%, the ACT with 1.5%; Tasmania with 1.1% and Northern Territory with 0.2%.
The government has recently launched a crackdown on foreign property ownership following concerns about people on temporary residency visas who have kept their properties as investments. Temporary residents are allowed to buy one dwelling to live in but must sell it when their visa expires or the property is no longer their primary residence.
