The topic du jour.
Goverment shocked funds are buying newly built houses.
This all started when we allowed REITs and other incentives such as no CGT on Property acquired between 7 December 2011 and 31 December 2014
I think the measures introduced worked for a few years to stimulate the economy, increase prices from their lowest point and paid for construction esp of apartments.
The Govt wanted rid of negative equity for voters, they wanted to bolster the banks’ balance sheets, etc. This worked but almost too well.
No we see propery prices too high again and funds now buying houses ‘meant’ for normal buyers and not to be rented. It seems Govt are happy for apartments to be funded by foreign buyers but not houses.