[M500]

Is it balwyn high?  I live in wheelers hill, Glen Waverley has rocketed in price due to Glen Waverley high school

they offered 850,000 which is around 100,000 more than what similar houses are selling for

Drove through Balwin/ East Balwin the other day. A lot of houses being pushed over to make way for some really nice homes. Some nicely built homes by some interesting builders, one display home in East Balwin is quoting $40000/ sq!!!

[adam01]

^^^
Select areas in Balwyn u cannot multi unit develop on large blks as there is heritage protection and/or single dwelling covenants

[app]

When you hear of stories like this, it makes one think it's only a matter of time until they ban foreigners from buying Aussie residential real estate.  It's already getting to the point that the average Aussie cannot afford buy a house.

I wonder if the Chinese know this as well.  When that law changes, they'll be sitting on a valuable real estate.

[dkabab]

When you hear of stories like this, it makes one think it's only a matter of time until they ban foreigners from buying Aussie residential real estate.  It's already getting to the point that the average Aussie cannot afford buy a house.

I wonder if the Chinese know this as well.  When that law changes, they'll be sitting on a valuable real estate.

ban people spending foreign money in australia.... doubt it

it might just be in SA, but i thought foreigners could only buy a new property.

[mhh]

it might just be in SA, but i thought foreigners could only buy a new property.

News to me.

[Joel]

ban people spending foreign money in australia.... doubt it

it might just be in SA, but i thought foreigners could only buy a new property.

NSW is the same. So what happens is they have an Australia resident friend, who they get to buy it for them.
I have witnessed this first hand.
Or
They ask the owner to knock the house down so that a new house is built, then they are technically buying a "new" property.

[Fil-Ski]

News to me.

Non-residents are not able to by existing residential property. However just like everything plenty of loopholes exist.

[mhh]

Non-residents are not able to by existing residential property. However just like everything plenty of loopholes exist.

Yep.  Looking at a few now.

http://www.exfin.com/australian-property-firb

Whether allowing foreigners to buy Australian houses is a good thing or a bad thing depends on whether you are selling or buying of course.

[app]

ban people spending foreign money in australia.... doubt it

The economy doesn't gain from foreigners buying residential real estate.

All it does is inflate prices and causes a property bubble and when that bursts, the effects will flow to the rest of the economy...

[app]

Whether allowing foreigners to buy Australian houses is a good thing or a bad thing depends on whether you are selling or buying of course.

In the end it's a false economy.