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ARTICLE · 31 MAY 2017

Federal Budget 2017-18 - issues for the property industry

Colin Biggers & Paisley
Explore more from Colin Biggers & Paisley

There seems to be an attempt to balance the need for affordable housing solutions and the benefits of foreign investment.

AustraliaReal Estate and Construction
Carlos Gouveia
Carlos Gouveia
Richard Anderson
Richard Anderson
Duane Keighran
Duane Keighran

The premise of the Budget as it affects the property market appears to be an attempt to balance the need to provide for affordable housing solutions (particularly for first home buyers) with the promotion of economic growth. The Federal government has targeted foreign investors to relieve local affordability issues, however if foreign investors are dissuaded from deploying capital in Australia for residential investment, this may lead to an unwanted reduction in development due to the impact on the feasibility of development projects. This inevitably may lead to a reduction in jobs in this sector. The Federal government has sought to balance this possibility in a number of ways, including by:

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