Tony Abbott (Warringah, Liberal Party, Prime Minister) Share this | Hansard source

I thank the member for Lindsay for her question. I know her area very well, having lived there for 12 months back in the 1980s. Her area, and Sydney more generally, is full of aspirational people who want to buy their own home. Home ownership is the great Australian dream and the government's job is to ensure that there are no needless obstacles placed in the way of people realising this great dream.

Some 80 per cent of first home buyers buy an established residential property, and they should not face illegal competition from non-resident foreigners. It is illegal to buy an existing residential property if you are a non-resident foreigner. This is the law as it has been in place for many, many years. I think it was the Hawke government that put this law in place. But I regret to say that the law against non-resident foreigners buying existing residential properties was not enforced under the former government. Not once. There were no prosecutions, no divestment orders were made—not one.

Mr Husic interjecting—

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