Foreign Investors Boost Australian Home Purchases

Treasury's Foreign Investment Review Board (FIRB) approved 1,123 home purchases by foreign investors between July 1 and September 30, 2024. Chinese investors led with $400 million in approvals, followed by Hong Kong, Taiwan, Vietnam, and Indonesia.

This activity in Melbourne's western growth corridor highlights ongoing foreign interest in Australian property, particularly new dwellings. The impending ban on established homes for foreign buyers from April 2025 will likely redirect this investment focus.