The off topic thread #2

[chef]

Talking about the big smoke seeing the Violent Femmes tonight. Probs head to Chin Chin first for a nice dinner. Super excited.

 

[Cooldude]

If you ever have the chance to watch Amy Schumers new stand up special ******* dont.\

It is literally all MY VAGINA jokes.

Someone dying of cancer aids is funnier

I have no idea how she's famous

 

[kangaspurs]

Probs head to Chin Chin first for a nice dinner. Super excited.

I was there on Sunday night as part of a mates birthday celebrations. It was absolutely sensational.

 

[Spanish Sahara]

I was there on Sunday night as part of a mates birthday celebrations. It was absolutely sensational.

The bar downstairs is great too. Serves all the food from chin chins in a much cooler setting.

 

[jd2010]

Cruyff14

Read something today on news.com.au that foreign buyers are only 8% of purchases in Sydney. Hardly the sole problem if true

 

[Zidane98]

Cruyff14

Read something today on news.com.au that foreign buyers are only 8% of purchases in Sydney. Hardly the sole problem if true

They are generally hiding their purchases under friends who are citizens, under trusts etc etc. I koow the owner of my office building is not the actual owner on paper because they are from China and wouldn't be allowed to purchase it under existing rules.

 

[SM]

Cruyff14

Read something today on news.com.au that foreign buyers are only 8% of purchases in Sydney. Hardly the sole problem if true

I find that incredibly hard to believe.

 

[Jatz]

Yeah, absolutely no way that's correct at all.

 

[glenferry23]

Having not seen the data, on face value that might just refer to individual purchasers. ie, foreigners who have bought a property in their personal name.

Company purchases, in my experience, are far more prevalent. Quite easy for foreigners to set up a company here and place themselves or family members as directors/shareholders. And that might be a bit more difficult to track or recognize in the figures like above.

 

[jd2010]

I find that incredibly hard to believe.

Yeah, absolutely no way that's correct at all.

The Australian Financial Review is their source. You guys would know more than me how reputable they are.

Having not seen the data, on face value that might just refer to individual purchasers. ie, foreigners who have bought a property in their personal name.

Company purchases, in my experience, are far more prevalent. Quite easy for foreigners to set up a company here and place themselves or family members as directors/shareholders. And that might be a bit more difficult to track or recognize in the figures like above.

This is all they say... Does leave it open for foreign citizens with Australian companies being not in those figures

"Alarming figures published this week show one in every 10 homes in NSW is purchased by foreign investors - 11 per cent of property purchases"

"A closer look at the figures, according to the Australian Financial Review, shows the figures aren’t as scary as they seem. Once you strip out home jointly purchased by Australian and foreign citizens or by dual citizens, the share of foreign buyers is just 8 per cent, and that includes permanent residents according to today’s report."

 

[glenferry23]

The Australian Financial Review is their source. You guys would know more than me how reputable they are.


This is all they say... Does leave it open for foreign citizens with Australian companies being not in those figures

"Alarming figures published this week show one in every 10 homes in NSW is purchased by foreign investors - 11 per cent of property purchases"

"A closer look at the figures, according to the Australian Financial Review, shows the figures aren’t as scary as they seem. Once you strip out home jointly purchased by Australian and foreign citizens or by dual citizens, the share of foreign buyers is just 8 per cent, and that includes permanent residents according to today’s report."

Yep that's a bit ambiguous. It probably should include a note to separate 'citizens' from 'companies', but perhaps the data doesn't show that.

 

[Zidane98]

The Australian Financial Review is their source. You guys would know more than me how reputable they are.


This is all they say... Does leave it open for foreign citizens with Australian companies being not in those figures

"Alarming figures published this week show one in every 10 homes in NSW is purchased by foreign investors - 11 per cent of property purchases"

"A closer look at the figures, according to the Australian Financial Review, shows the figures aren’t as scary as they seem. Once you strip out home jointly purchased by Australian and foreign citizens or by dual citizens, the share of foreign buyers is just 8 per cent, and that includes permanent residents according to today’s report."

Plenty of Chinese buyers here purchase houses under a family / friend's name who is an Australian citizen though. They wouldn't show up as a foreign buyer on statistics but effectively are.

Also, foreign investors are only really interested in Sydney property. The stats include the whole of NSW.

 

[FAITH]

They don't hide here. Most properties sold around our area in recent times are chinese or Indians. Problem is they offer absurd money and first home buyers are priced out.

 

[jd2010]

Plenty of Chinese buyers here purchase houses under a family / friend's name who is an Australian citizen though. They wouldn't show up as a foreign buyer on statistics but effectively are.

Also, foreign investors are only really interested in Sydney property. The stats include the whole of NSW.

Never going to really be able to combat that though are you?

Over here they're only interested in anything $900k+ is that the same back home? Or are they actually looking across the whole market

 

[Bojan KantKick]

before looking at and blaming foreign investors, take a look at.your folks mates who live down the road who are buying their 5th house in their SMSF for your property price explanations.

Foreigners aren't the reason for high property pricing, they just exacerbate the problem.

 

[Zidane98]

Never going to really be able to combat that though are you?

Over here they're only interested in anything $900k+ is that the same back home? Or are they actually looking across the whole market

Pretty much the same. My office is in Glen Waverley where it's pretty much all foreign investment and sky high prices.

 

[Bojan KantKick]

Never going to really be able to combat that though are you?

Over here they're only interested in anything $900k+ is that the same back home? Or are they actually looking across the whole market

foreign investors have stopped buying apartments in Auckland. Watch the crash over the next few years. Taxation changes will cool property prices over their generally too.

 

[Bojan KantKick]

Pretty much the same. My office is in Glen Waverley where it's pretty much all foreign investment and sky high prices.

no it's not. Glenny is full of 2nd and 3rd gen asians, not ring ins and is $1 mil+ per house cos of the local school.

Asian parents are paying more a house in glenny now so they don't have to pay for a 250k education for their kids later.

 

[Cooldude]

I'm sorta in favour of a foreign property buyers tax in certain states to limit the Chinese buyer monopoly

 

[Bojan KantKick]

Hightower re-signs with the Pats. You can book in another superbowl for them barring injury. Winning the chip and getting stronger ffs. Gilmore is a monster.

 

[Stan_Darsh72]

I have no idea how she's famous

Same with me.

She even stole jokes in this one and one of them was from Dave Chappelle who dileviered the same joke far far better.

 

[Latro]

Same with me.

She even stole jokes in this one and one of them was from Dave Chappelle who dileviered the same joke far far better.

Chappelle is one of the greatest comedians ever

 

[jd2010]

foreign investors have stopped buying apartments in Auckland. Watch the crash over the next few years. Taxation changes will cool property prices over their generally too.

Wouldn't count on tax changes here coming in until labor changes leader. They really should win the next election but the opposition leader is hopeless.

Auckland is very similar to Sydney in that land can't just be extended out easily being so narrow and with the harbour and so many inlets. The room to grow is north of Auckland but there's only one way to and from the city so that's going to be a $700k house with 2hr journey to work!

 

[Bojan KantKick]

Wouldn't count on tax changes here coming in until labor changes leader. They really should win the next election but the opposition leader is hopeless.

Auckland is very similar to Sydney in that land can't just be extended out easily being so narrow and with the harbour and so many inlets. The room to grow is north of Auckland but there's only one way to and from the city so that's going to be a $700k house with 2hr journey to work!

I thought NZ had introduced CGT on investment properties under John Key?

The asian investors are selling up in NZ. They have also made it more difficult by requiring all property buyers to have NZ bank accounts IIRC.

 

[jd2010]

I thought NZ had introduced CGT on investment properties under John Key?

The asian investors are selling up in NZ. They have also made it more difficult by requiring all property buyers to have NZ bank accounts IIRC.

Think it's only if you're flipping houses within a couple of years