A two-year ban on foreign entities buying local land and houses has been proposed by Federal independents, which includes local Federal member Rebehka Sharkie.
The Prohibition on the Purchase of Residential Property by Foreign Entities Bill would try to provide regional home buyers with less competition, as supply remains at all-time lows amid a regional housing crisis.
The Independent Member for Mayo says it’s a non-discriminatory way of leveling the playing field.
“Every year thousands of residential properties are sold to foreign investment interests at the expense of Australians struggling to enter the real estate market. We need to look after the interests of Australians before those of foreign investors,” said Ms Sharkie.
Listen to Rebehka Sharkie’s full interview with ARN‘s Chris Guscott on Around SA below: