Can you help bring the cost of the overall housing market down in the face of ever increasing overseas investors?
There are a significant number of factors that contribute to housing affordability, stemming from supply and demand! Government policies around foreign ownership rules, taxes and statutory expenses such as stamp duty all add to the cost of transacting and overall house and related expenses.
Full employment and consumer confidence also has an impact on the price people are willing to pay for properties. The recent banking royal commission and APRA investigation into banking and financial services practices around lending will undoubtedly make getting a loan harder and more costly. All of these and more macro economic factors are the major reasons affecting the pricing.