Foreign buyers retreat from national housing market, but not Qld

first_imgThe latest FIRB report reveals foreign investment in Australia’s housing market has fallen, but demand for Queensland property remains steady.The figure is almost unchanged from 18 per cent in 2016/17.It’s a different story nationally, with the number of residential real estate approvals peaking in 2015/16 at 40,000, with a proposed investment value of $72.4 billion, before plummeting to just 10,000 in fiscal 2018.More from newsParks and wildlife the new lust-haves post coronavirus14 hours agoNoosa’s best beachfront penthouse is about to hit the market14 hours agoChina accounts for the majority of residential real estate approvals.Carrie Law, chief executive of Chinese real estate website Juwai.com, said that while Chinese demand for residential real estate nationally had fallen, a recovery was on the way. China accounts for the majority of Australia’s residential real estate approvals. Photo: Anthony Wallace/AFP.“The FIRB data is already nine months old,” Ms Law said.“The data is finally starting to reflect what happened last year. Chinese buying dropped off significantly due to foreign buyer taxes and capital controls. “Our data suggests the fall in Chinese demand is over. “We expect Chinese buying to be flat in 2019.” The latest FIRB report reveals foreign investment in Australia’s housing market has fallen. Image: AAP/Joel Carrett.THERE has been a dramatic fall in foreign investment in Australia’s housing market, but demand for Queensland property remains steady.The latest Foreign Investment Review Board report reveals the value of approvals for foreign investment in residential real estate nationally fell $17.5 billion over the 2017/18 financial year to $12.5 billion.Queensland received 17 per cent of all residential real estate approvals last financial year, with an investment value of $1.4 billion — more than the ACT, Western Australia, the Northern Territory and Tasmania combined.center_img The latest FIRB report reveals foreign investment in Australia housing is waning. Image: AAP/Joel Carrett.Ms Law said Chinese buying in 2017-18 was most impacted by three factors — the unexpected canceling of promised mortgage loans by Australian banks, higher foreign stamp duty taxes and capital controls making it more difficult to move money from China.More than 17 per cent of all residential properties found to be in breach of foreign investment rules in 2017/18 were in Queensland.A recent report from realestate.com.au found demand from Chinese buyers for the Brisbane housing market actually rose 35 per cent in the 12 months to May 2018.last_img read more

Rasheem Green leaves, but Iman Marshall stays

first_imgThis past weekend, defensive tackle junior Rasheem Green declared for the 2018 NFL Draft. He is the first draft-eligible defensive player on the USC Football team to do so during this off-season.Green’s departure leaves a major hole on the Trojans’ defense. Daily Trojan file photo.The 6-foot-4 Los Angeles native made his presence felt on the defensive line, with 117 tackles, 16.5 sacks, a pair of blocked field goals and even a touchdown via a fumble recovery. Green announced his NFL declaration through Twitter on Jan. 13. “After a lot of careful thought and discussions with my family, trusted friends, and the USC coaching staff, I have decided to forgo my final year of eligibility at USC and enter the 2018 NFL Draft,” Green wrote in his tweet. Green also thanked those who have supported him throughout his football career.“I wouldn’t be the player and person that I am without you guys,” Green said. “My three years at USC have been a blessing, and I am forever grateful for the people that I have encountered on this journey.”These last few weeks, the USC Football team has lost a few significant members, including redshirt sophomore quarterback Sam Darnold, junior running back Ronald Jones II and junior wide receiver Deontay Burnett. Despite the chain reaction of declarations that occurred after Darnold announced his decision, a few players elected to spend another year sporting the USC colors, including junior inside linebacker Cameron Smith. On Jan. 12, Smith’s junior defensive-mate Iman Marshall announced that he would remain a Trojan for another season. “I came to USC three years ago with big expectations for myself and for this University,” Marshall said. “[I] want to help bring this University back to the top and feel we got a lot more left to accomplish, time to go and get it!”The 6-foot-1, 200-pound cornerback is known for his physical play-style that has resulted in 118 tackles, 17 deflections and six interceptions throughout his football career at USC. Without a doubt, the two returning veteran defenders, Smith and Marshall, will have to serve as leaders for a now offense-depleted Trojan Football team. Fellow defenders, redhsirt junior cornerback Ajene Harris and junior safety Marvell Tell III are also expected to return for their senior seasons.last_img read more