What we need is for the Aussie property market to start looking like it's going the way of almost every other property market around the world, and many of these foreign investors, who are also most likely sitting on a large fx profit, will start pulling the pin.
This type of deceit can only amplify the pain IMO, ie, make any market correction a lot worse than it would have been. One aspect here is the fx, the foriegn owner can happily sell at an AUD loss in many cases but still make a profit due to AUD improvement on value since purchased.
I'm going to write to the FIRB asking for this mysterious data as well. Have been to too many auctions on the lower north shore of Sydney, where the only people left bidding or negotiating at the end appear to be people from hong kong buying for some spoiled brat. I would feel the same if they were all american, Irish, Indonesian, Swedish etc. I don't care which nation it is, the FIRB is apparently not doing its job.
