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Australia for sale (Read 7130 times)
Lisa Jones
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Australia for sale
Sep 13th, 2011 at 11:37pm
 
http://au.news.yahoo.com/today-tonight/consumer/article/-/10251174/australia-pro...

September 13, 2011

One of the biggest ever 'buy Australian' campaigns is underway, and it's happening in China, targetting the country's growing middle class.

Farms, houses, apartments and vineyards - our finest Aussie assets are up for grabs.

At China's International Luxury Property Show, Shanghai, Aussie property is in the spotlight and in hot demand.

Australian real estate agents on the ground are spruiking everything from budget price apartments to luxury waterfront mansions, and the Chinese buyers can't get enough.

Melbourne real estate agent Chris Bevan from JP Dixon, is in China with a single purpose - to pitch a new apartment complex in Melbourne directly to Chinese buyers.

“It’s better buying at the moment as the market is down,” said Bevan.

He’s also hoping there'll be interest in a $20 million beachfront mansion, complete with tennis court, pool gym and sauna.

“They love the security and they also love the more spacious living, and the more spacious lifestyle, because again here the apartments are quite small.”

Compared to Australia, Shanghai is packed and polluted. Home to 23 million people, the city's property market is tightly controlled by the Government.

With rising interest rates, banks restricting lending, and only long leases on offer, it’s no wonder cashed up Chinese buyers don't flinch at Aussie prices.

For the Chinese it’s a relatively inexpensive investment in a lifestyle. By comparison, a modest two bedroom apartment in downtown Shanghai would set you back around $3 million.

Realtor Susie Goodall has helped Chinese multimillionaires embark on a shopping spree for luxury homes in Canada.

“A lot of people from emerging markets are looking for safe havens for their money,” Goodall said.

“Both property markets are very strong. Both in Canada and in Australia education is also very good.”

Three weeks ago Vivienne Liu and her family moved to Australia from Shanghai. Now happily settling into their new $1.7 million home in Melbourne's upmarket Kew, Liu says “the air is so fresh in Australia and the people are so friendly.”

A temporary resident on a business visa, Vivienne and her husband gained approval to buy through the Foreign Investment Review Board, which tightened its protocols only last year.

They dictate that foreigners can no longer buy existing Australian homes as investments. Temporary residents may buy one existing home to live in, but must apply first. Then they must sell their property when they leave Australia.

However all foreign investors can continue to buy new or off-the-plan properties without limitation, and there's still a loophole - international students who become permanent residents can buy up big.

When it comes to our farms, Independent Senator Nick Xenephon says, “internationally Australia is a laughing stock,”

Senator Xenephon is pushing for our land sale threshold to be lowered to just $5 million.

“The fact is the current threshold before the umpire, the Foreign Investment Review Board is $231 million - any farm, any agricultural enterprise worth less that $231 million isn’t even looked at,” Senator Xenephon added.

NSW farmer Tim Duddy maintains agriculture is under siege. For instance over the past two years the world’s biggest coalminer, the Chinese Government owned Shenhua Watermark Coal, snapped up 43 farms for a total of $213 million on the Liverpool plains wheatbelt.

According to Duddy they make owners offers too good to refuse.

“The incentive that they're throwing around, and have been paying, is almost up to ten times what some of that land is worth.”

But the biggest foreign raiders are actually the Americans, plunging over $39 billion into Australia, followed by the UK, China, Japan and Switzerland.

“Australia could be roughly worth just north of $8 trillion, half a trillion dollars of that comes from foreign direct investments, so without it there'd be literally hundreds of thousands of people without work,” said Australia's Assistant Treasurer, Bill Shorten.

“In the twelve months to July it appears there was $220 billion of sales of Australian land. Within Australia it looks like the foreign proportion is somewhere around five to six per cent,” he added.

The fact is though, a quarter of the Northern Territory is either foreign owned or partially foreign owned, and now there’s even an Australian website showcasing farms direct to the Chinese.

“Where is this headed? This is not just about the current generation, it’s about our kids and our kid’s kids. We should be selling the milk, not the cow, the food, not the farm,” Senator Xenephon said.
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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)
 
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Lisa Jones
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Re: Australia for sale
Reply #1 - Sep 13th, 2011 at 11:38pm
 
This article is so vexing.

We're so short sighted that we can't see we're commiting long term suicide.
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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)
 
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beer
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Re: Australia for sale
Reply #2 - Sep 14th, 2011 at 10:37pm
 
don't worry, entire developed world except germany and japan is commiting the same suicide game, you are not alone.

Lisa Jones wrote on Sep 13th, 2011 at 11:38pm:
This article is so vexing.

We're so short sighted that we can't see we're commiting long term suicide.

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Amadd
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Re: Australia for sale
Reply #3 - Sep 17th, 2011 at 2:03am
 
Quote:
and the Chinese buyers can't get enough.


I suppose that sentence could be elaborated to mean that the top 0.01% of chinese money magnates need somewhere to put their money.
That still means that there are a lot of potential chinese buyers, and also a lot of Indian buyers who may have the upperhand over ordinary Australians, and who possibly already have a stranglehold on our estate economy.

If they continue to drive prices up and buy ordinary Australians out of the market, then eventually something has to give.
Either us apathetic Australians agree to rent forever rather than buy, or more restrictions for overseas investors will be put in place and house prices will become more affordable for Australians in the short term, but our economy will suffer as a result.






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Lisa Jones
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Re: Australia for sale
Reply #4 - Sep 17th, 2011 at 7:38pm
 
Amadd wrote on Sep 17th, 2011 at 2:03am:
I suppose that sentence could be elaborated to mean that the top 0.01% of chinese money magnates need somewhere to put their money.
That still means that there are a lot of potential chinese buyers, and also a lot of Indian buyers who may have the upperhand over ordinary Australians, and who possibly already have a stranglehold on our estate economy.

If they continue to drive prices up and buy ordinary Australians out of the market, then eventually something has to give.
Either us apathetic Australians agree to rent forever rather than buy, or more restrictions for overseas investors will be put in place and house prices will become more affordable for Australians in the short term, but our economy will suffer as a result.



Exactly. Hence my post above.
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If I let myself be bought then I am no longer free.

HYPATIA - Greek philosopher, mathematician and astronomer (370 - 415)
 
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Amadd
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Re: Australia for sale
Reply #5 - Sep 29th, 2011 at 11:53pm
 
Quote:
Exactly. Hence my post above.


So are you advocating that they be allowed to continue investing in our "hard fought" land or not?





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« Last Edit: Sep 30th, 2011 at 1:17pm by Amadd »  
 
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Stanleys
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Re: Australia for sale
Reply #6 - Jul 17th, 2012 at 5:10pm
 
In having the best interest that will have to make it more idea to have an interesting view that give you knowledge for having a good investment.
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b2b.sp@m
 
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ardevelopments
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Re: Australia for sale
Reply #7 - Jul 21st, 2012 at 2:02pm
 
The light in Australia is always shining brightly and for a lot of people, the sunny nature of the country, as well as diverse natural landscape makes it a perfect venue for travel and exploration. Australia is one place where the market is on a high and it is increasing even these days.
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John Smith
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Re: Australia for sale
Reply #8 - Jul 22nd, 2012 at 5:42pm
 
foreign owners should only be allowed long term leases ... not ownership
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Our esteemed leader:
I hope that bitch who was running their brothels for them gets raped with a cactus.
 
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namnugenot
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Re: Australia for sale
Reply #9 - Aug 1st, 2012 at 9:56am
 
Going once...going twice....gone. Sad
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Stanleys
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Re: Australia for sale
Reply #10 - Aug 9th, 2012 at 1:06pm
 
In making the best view that can earn new things to achieved the best way to make it more interesting.


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b2b.sp@m
 
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Lavy_123
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Re: Australia for sale
Reply #11 - Feb 5th, 2013 at 2:36pm
 
beer wrote on Sep 14th, 2011 at 10:37pm:
don't worry, entire developed world except germany and japan is commiting the same suicide game, you are not alone.



Why we don't to worry about the things.We should be worry about the things.and make the solution that how we are can come out from these conditions.
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Lavy_123
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Re: Australia for sale
Reply #12 - Feb 5th, 2013 at 2:40pm
 
ardevelopments wrote on Jul 21st, 2012 at 2:02pm:
The light in Australia is always shining brightly and for a lot of people, the sunny nature of the country, as well as diverse natural landscape makes it a perfect venue for travel and exploration. Australia is one place where the market is on a high and it is increasing even these days.





I'll be must agree with you that how it would be work for you.Australia as a part of our country it is more beautiful and   well developed country.As I never seen low market value in Australia in  my age.
Please make me suggestions and visits.
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« Last Edit: Feb 5th, 2013 at 3:09pm by Lavy_123 »  
 
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newtown_grafitti
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Re: Australia for sale
Reply #13 - Feb 14th, 2013 at 12:51pm
 
On current trends, most of Australia's land and businesses will end up being foreign owned. Despite the minerals export boom, Australia earns insufficient from its goods and services exports to pay for the foreign goods and services that we buy. The short-fall for the September 2012 quarter (latest available figure) was $14.9 billion and this was not atypical. There has been a short-fall every quarter for the last 30 years.

In the absence of sufficient success in raising exports the only way to close the gap is to sell off capital items such as Australian-owned businesses, farms, mines, homes.

If you want to stop foreigners from buying Australian property then stop buying foreign cars, computers, phones, food, books, music; stop equipping the armed forces with foreign-made weapons; stop flying on foreign-made aircraft; stop watching foreign movies and TV shows; and stop advertising on foreign search engines.
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fractalign
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Re: Australia for sale
Reply #14 - May 4th, 2014 at 11:01am
 
I couldn't agree more. Stop buying foreign goods makes sense to me. It just unfortunate that most Australians don't agree with your logic. Most Aussies loathe Australian made goods, and are more than happy to see our manufacturing industries die. They use the excuse that if it saves money than so be it.

Most aussies will label you a racist if you are start questioning why we should not be selling off all our national assets and land to places like China. If this trend does not get addressed I can envisage the day where Australia becomes a colony of China and our government becomes subservient to theirs.

Once the property is sold off and the money spent, nothing is left. All our farms and properties should be bought up by the government if they fail to sell to Australian interests. Foreign ownership of Australian assets and property should be legislated out of existence, our food and water security is too important to fall into foreign hands.
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