Although house prices in Sydney and Melbourne have risen at unprecedented rates since 2009 , 7% of Chinese mortgage holders - equating to 100,000 homes had little or no equity in their homes in the year to October 2016 . Richardson Wrench Mosman , director of real estate agent Richardson Wrench Mosman , says the Australian Tax Office should return the ratio of homes that can be sold off-plan to overseas buyers back to 50% from 100% to make housing cheaper for local buyers. In Melbourne, houses are 2.7 percent and units are 4.0 percent. And to ease rising rental costs in Sydney , Simeon suggests the the Australian Tax Office leases out the city's about 300,000 permanently vacant apartments.
Although house prices in Sydney and Melbourne have risen at unprecedented rates since 2009 , 7% of Chinese mortgage holders - equating to 100,000 homes had little or no equity in their homes in the year to October 2016 . Richardson Wrench Mosman , director of real estate agent Richardson Wrench Mosman , says the Australian Tax Office should return the ratio of homes that can be sold off-plan to overseas buyers back to 50% from 100% to make housing cheaper for local buyers. And to ease rising rental costs in Sydney , Simeon suggests the the Australian Tax Office leases out the city's about 300,000 permanently vacant apartments.