There is likely to be a rush of foreign buyers in Australia’s residential property market in coming weeks. What’s the scam?

Labor’s Housing Minister Clare O’Neill has announced the government will ban foreign investors from April 1 from buying established property, though there is an exemption for large developments.

The scam is Labor is replicating the Coalition’s policy in a move to make housing more affordable for young Australians. Sensible move. We are sure we heard this somewhere earlier this week. Oh, here it was:

This post was originally published on Michael West.