This bill did not become law and is no longer proceeding.
Welfare & housing
Foreign buyers would be blocked from buying homes in Australia for 2 years, with the bill aimed at easing pressure in the housing market.
Home ownership is becoming increasingly out of reach, and the bill identifies foreign purchases of Australian homes as adding pressure to the housing affordability crisis. It responds by banning foreign entitiesThe bill uses this to cover non-citizens, non-permanent residents, certain foreign-controlled companies and foreign governments that would be blocked from buying residential property. from buying residential propertyThis means a home or unit in Australia used mainly for living in, and for a building it also includes the land directly under it. for two years, with fines and court-ordered sales for breaches.
By February 2024, the bill’s sponsors argued that Australia’s housing affordability crisis had pushed home ownership out of reach for many buyers and that foreign purchases, which they said had risen post-COVID, were adding demand in a tight market. The bill responded with a proposed two-year ban on foreign entitiesThe bill uses this to cover non-citizens, non-permanent residents, certain foreign-controlled companies and foreign governments that would be blocked from buying residential property. buying residential propertyThis means a home or unit in Australia used mainly for living in, and for a building it also includes the land directly under it. and court-backed enforcement, but it did not pass and was removed from the Notice PaperThis is the House of Representatives list of business to be dealt with, and the bill was removed from it so it stopped moving forward. in August 2024.
No significant public case against the bill is recorded so far, with no clear criticism in the available debate beyond the absence of detailed evidence here about drafting, safeguards or likely market impact. The recorded speeches supported the measure, so any reservations appear limited or unexpressed rather than a developed public campaign against it.
Andrew Gee MP introduced this bill. Speeches supporting it came from Centre Alliance, some crossbench members.
Did it become law?
No
The bill did not complete passage through Parliament.
Final passage
No final passage
The bill has not completed passage and is no longer proceeding.
Time before failure
190 days
From introduction to the final recorded step before the bill stopped proceeding
Meaning
Foreign buyers would be blocked from buying homes in Australia for 2 years, with the bill aimed at easing pressure in the housing market.
The ban would apply to non-citizens, non-permanent residents, and companies controlled from overseas, widening who could not buy Australian homes.
People who broke the ban could face a fine of 800 penalty units, and foreign companies could be fined up to five times that amount.
The Federal Court of AustraliaThe minister could apply to this court to force the sale of a property interest bought in breach of the proposed ban. could be asked by the minister to force the sale of a property interest bought in breach of the ban.
A foreign buyer purchasing with an Australian citizen or permanent residentA person with this status is treated differently from a foreign buyer, and the bill exempts them from the ban in some cases. spouse or de facto partnerThis is a partner in a couple relationship who is not legally married, and the bill exempts some purchases made with such a partner if they are an Australian citizen or permanent resident. would be exempt from the ban.
The Bill introduces a prohibition on non-Australian foreign entities purchasing residential property for a 2-year period.Prohibition on the Purchase of Residential Property by Foreign Entities explanatory memorandum
Noncitizens, non-permanent residents and foreign controlled companies will be included in this prohibition.Second reading speech
purchasing residential property during the 2-year period starting on the commencement of the Prohibition on the Purchase of Residential Property by Foreign Entities 2024 Bill. The penalty for contravening this is 800 penalty units. It is noted that pursuant to subsection 4B(3) of the Crimes Act 1914, a penalty of 5 times this amount may be imposed upon an offending foreign corporate entity.Prohibition on the Purchase of Residential Property by Foreign Entities explanatory memorandum
In addition to a monetary penalty, the Bill empowers the Federal Court of Australia (the Court), on the application of the Minister, to dispose of an interest in a property that was obtained in contravention of this prohibition.Prohibition on the Purchase of Residential Property by Foreign Entities explanatory memorandum
It does not apply if a non-Australian is purchasing property jointly with a spouse or de facto partner who is an Australian citizen or permanent resident.Second reading speech
Context
By February 2024, the bill’s sponsors argued that Australia’s housing affordability crisis had pushed home ownership out of reach for many buyers and that foreign purchases, which they said had risen post-COVID, were adding demand in a tight market. The bill responded with a proposed two-year ban on foreign entitiesThe bill uses this to cover non-citizens, non-permanent residents, certain foreign-controlled companies and foreign governments that would be blocked from buying residential property. buying residential propertyThis means a home or unit in Australia used mainly for living in, and for a building it also includes the land directly under it. and court-backed enforcement, but it did not pass and was removed from the Notice PaperThis is the House of Representatives list of business to be dealt with, and the bill was removed from it so it stopped moving forward. in August 2024.
House bill introduced to ban foreign entitiesThe bill uses this to cover non-citizens, non-permanent residents, certain foreign-controlled companies and foreign governments that would be blocked from buying residential property. from buying homes
Andrew Gee introduced the bill to impose a two-year ban on foreign entitiesThe bill uses this to cover non-citizens, non-permanent residents, certain foreign-controlled companies and foreign governments that would be blocked from buying residential property. purchasing residential propertyThis means a home or unit in Australia used mainly for living in, and for a building it also includes the land directly under it. as a way to ease housing affordability pressure.
Parliamentary timeline ↗Second readingThis is the stage where MPs debate the main purpose of a bill, including its policy case and likely effects. opens debate on penalties and forced sales
The second readingThis is the stage where MPs debate the main purpose of a bill, including its policy case and likely effects. set out the bill’s enforcement model, including fines and Federal CourtThe minister could apply to this court to force the sale of a property interest bought in breach of the proposed ban.-ordered disposal of property interests acquired in breach of the proposed ban.
Australian Parliament House ↗MPs link the housing crisis to foreign buying after COVID
In the second readingThis is the stage where MPs debate the main purpose of a bill, including its policy case and likely effects. debate, supporters said home ownership was slipping away, described a housing crisis, and argued that post-COVID foreign purchases were adding pressure in a market already short of homes.
Hansard ↗Bill removed from the Notice PaperThis is the House of Representatives list of business to be dealt with, and the bill was removed from it so it stopped moving forward.
The bill was removed from the Notice PaperThis is the House of Representatives list of business to be dealt with, and the bill was removed from it so it stopped moving forward. under standing order 42, ending its progress without the proposed foreign-buyer ban becoming law.
Parliamentary timeline ↗Legislative route
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
Introduced and read a first time
A minister or sponsoring member moved the second readingThis is the stage where MPs debate the main purpose of a bill, including its policy case and likely effects., opening the main debate on the bill's purpose and principles.
Second readingThis is the stage where MPs debate the main purpose of a bill, including its policy case and likely effects. moved
The scrutiny committee recorded that it considered the bill in Scrutiny Digest 3 of 2024.
Considered
Collected source bundleThe bill reached this recorded parliamentary step.
Key criticism
No significant public case against the bill is recorded so far, with no clear criticism in the available debate beyond the absence of detailed evidence here about drafting, safeguards or likely market impact. The recorded speeches supported the measure, so any reservations appear limited or unexpressed rather than a developed public campaign against it.
No party represented in the debate opposed the bill in publicly available sources cited.
Votes
No recorded votes were found before this bill stopped proceeding.
Parliamentary debate
Start here — lead voices
Andrew Gee supports the bill and says it should be brought on for debate quickly because banning foreign buyers from residential propertyThis means a home or unit in Australia used mainly for living in, and for a building it also includes the land directly under it. would ease housing pressure and help more Australians, especially first-home buyers, get into the market.
Read in Hansard ↗Sharkie supports the bill and says it is a sensible pause on foreign residential propertyThis means a home or unit in Australia used mainly for living in, and for a building it also includes the land directly under it. purchases to help cool the housing market.
Read in Hansard ↗All speeches by bloc
2 speakers · 2 support
“It's our role as members of parliament to empower Aussies to achieve it. This bill does just that.”Read the full speech in Hansard ↗
“This is an eminently sensible bill that's following on from Canada and New Zealand, and I thank the member for Calare for his great work in this area. We know that we are in a housing crisis. We also know that we need to do everything possible in this place to look at taking the heat out of the market, because in one generation we have taken away the dream of home ownership. I would argue that part of that is the fact that we have allowed foreign ownership. We know that post-COVID, anecdotally, this has increased dramatically. And, as the member for Calare rightly says, in just one year, that's 4,000 homes that could have gone to Australian buyers. It is not easy to build 4,000 homes. It takes time. We have a huge housing shortage. It is going to take decades for us to boost the supply.”Read the full speech in Hansard ↗
Record
House · Introduced and read a first time
Introduced
The bill was formally presented to the chamber and read a first time, which starts its parliamentary journey.
House · Second reading moved
Second readingThis is the stage where MPs debate the main purpose of a bill, including its policy case and likely effects. opened
A minister or sponsoring member moved the second readingThis is the stage where MPs debate the main purpose of a bill, including its policy case and likely effects., opening the main debate on the bill's purpose and principles.
House · Removed from the Notice Paper in accordance with (SO 42)
Removed from the Notice PaperThis is the House of Representatives list of business to be dealt with, and the bill was removed from it so it stopped moving forward. in accordance with (SO 42)
The bill reached this recorded parliamentary step.
Senate Standing Committee for the Scrutiny of Bills
Considered
The scrutiny committee recorded that it considered the bill in Scrutiny Digest 3 of 2024.
Considered by scrutiny committee (28 Feb 2024): Senate Standing Committee for the Scrutiny of Bills; Scrutiny Digest 3 of 2024
Collected source bundle