FIRB Ban on Established Dwellings Extended to 2029

Originally implemented in April 2025, the prohibition on foreign buyers acquiring established homes is now set to continue for an additional two years and three months. Exceptions still exist for new dwellings and vacant land.

This extended ban reinforces that foreign investment in Melbourne's western growth corridor will primarily be directed towards new developments. Developers and those involved in new housing supply may see continued demand from overseas buyers.