PHOTO: Pauline Hanson has called on the Albanese government to ban foreigners from owning property in Australia. FILE

Pauline Hanson Calls for Ban on Foreign Investors

Claims Foreign Investors Worsen Housing Crisis

One Nation Leader, Pauline Hanson, is pushing for a ban on foreigners owning property in Australia, citing the worsening housing crisis. Specifically pointing to Chinese investors, who reportedly bought $2.3 billion worth of Australian property, Senator Hanson expressed her frustration with the current situation.

Foreign Investors and Housing Crisis

During an interview with 2GB host Chris O’Keefe, Senator Hanson highlighted the alarming amount of housing being purchased by foreigners, calling it “disgusting.” She blamed a low exchange rate and inadequate government policies for exacerbating the housing crisis and making it easier for foreigners, particularly from China, to buy real estate in Australia.

According to Senator Hanson, Chinese investors lead the pack of foreign investors, spending around $7 million daily on housing in the country. Despite government policy only allowing the purchase of new properties, she claimed that foreign investors were also buying old and established properties without proper investigation.

The Call for Government Intervention

Senator Hanson urged the Albanese government to take action and investigate properties acquired by foreign investors to ensure compliance with the law. She asserted that such investments were driving up property prices, making homeownership unattainable for many Australians.

With an estimated housing shortage of 600,000 units across Australia, Senator Hanson emphasized that the dream of owning a home is slipping away for the younger generation.

Opposing Views and Social Media Response

O’Keefe questioned whether the issue was blown out of proportion, citing statistics that showed foreign investment represented less than 1% of Australia’s housing market in the past years. However, Senator Hanson maintained the severity of the issue, referencing data from the Foreign Investment Review Board, which highlighted the substantial Chinese investment in the Australian property market.

On social media, opinions were divided. Some supported the idea, stating that foreign investors should only be allowed to purchase property in Australia if Australians have the same rights in their countries. Others, however, expressed concerns about potential repercussions, such as a collapse of the Australian housing market if foreign investment is curbed drastically.