Coalition Leads Investigation Into Recent Offshore Farm Investment

In New Zealand, the government needs to approve land purchases of greater than five hectares.

In Australian, the government only reviews purchases of more than $231 million (two hundred and thirty one million).

The federal coalition is looking to make the sector more transparent, according to an article in the AFR.

The coalition working group includes deputy leader Julie Bishop, shadow treasurer Joe Hockey, agriculture spokesman John Cobb, nationals senate leader Barnaby Joyce and industry spokeswoman Sophie Mirabella.

Senator Joyce said the problem was not foreign investment but the proportion of it in an area. “It’s OK to have a glass of wine, it’s a mistake to have three bottles a night,” he said.

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Marc Pallisco

A freelance property analyst and journalist, Marc is a co-founder of realestatesource.com.au.

Marc Pallisco

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