The International and Foreign Investment Group is still trying to tell us that foreign ownership of Australian housing is less than 1%. They’re sticking to a figure of 0.8% and say they have “full confidence” in it.
I asked them a simple question: Does any real estate agent or any Australian actually believe that?
The truth is, they’ve never conducted market research to see if the public trusts their data. They track the “flow” of new sales while ignoring the massive amount of housing already in foreign hands.
Australians are being priced out of the housing market, while bureaucrats ignore what’s really happening in our suburbs and rely on data that just doesn’t pass the pub test.
I will continue to question these figures until we get answers that reflect reality.
— Senate Estimates | December 2025
Transcript
Senator ROBERTS: Could I have the International and Foreign Investment Group, please. Do you still maintain the view that, in Australia, foreign ownership of housing is less than one per cent of the housing market?
Ms Di Marco: I’ll hand most of these questions to Mr Tinning and Ms Sloan, who I think have the statistics in front of them and can speak to any policies of the government. But I just want to caution at the beginning of the session that, if we start to get into questions of application of residential real estate, many of them may need to be taken on notice because that is the remit of the Australian Taxation Office. But I’ll hand over to Mr Tinning.
Senator ROBERTS: The chair will be happy with that.
CHAIR: I will be.
Mr Tinning: We don’t have figures for the total stock of housing, but we do have annual figures for purchases.
Senator ROBERTS: Do you still believe that they’re under one per cent?
Mr Tinning: We have figures for 2023-24, with the latest available figure being purchases at 0.8 per cent, so that is under one per cent.
Senator ROBERTS: You do. Do you honestly believe that any real estate agent in Australia accepts the claim that foreign ownership is less than one per cent of the housing market?
Mr Tinning: These figures are from the ATO, and we have very strong faith in their ability to accurately monitor these figures. They have very strong systems, so we are confident in those figures.
Senator ROBERTS: Yes, I’ve been on that merry-go-round, and I used to ask you questions. You told me to go to the ATO, so I went to the ATO. Do you honestly think any Australian believes that foreign ownership is less than one per cent?
Mr Tinning: I can’t comment on the views of the Australian populace, but we are very confident in those figures.
Senator ROBERTS: I’m asking you for your views.
Mr Tinning: My views are that those figures from the ATO are accurate.
Ms Di Marco: I’m not sure that it’s for Mr Tinning to provide views on whether he thinks those figures are accurate; however, we do have those figures from the ATO. Also, just to reiterate his earlier point, the figures that we have from the ATO are about the flow, the investment number that’s been made as a proportion over the year and not the total ownership of foreign investment.
Senator ROBERTS: I’m concerned about both, but I understand that. He made that very clear. Have you ever conducted any market research or surveys around public confidence in your figures?
Ms Di Marco: No, we haven’t.
Senator ROBERTS: Why not?
Ms Di Marco: In April or May 2025, the government made a range of announcements regarding strengthening controls around foreign investment in residential real estate. But I would argue that it’s not really for us to go out there and conduct market research on these sorts of matters. The government has made a range of policy decisions, and we’re looking to implement those as quickly as possible.
Senator ROBERTS: Lastly, how many forms have been lodged since the vacancy fee returns foreign owners have come into effect?
Ms Di Marco: I think we’d have to take that on notice. The ATO would hold those details.
Senator ROBERTS: That’s understandable. Could we have them on a yearly basis, please?
Ms Di Marco: We’ll see what we can get for you.
from NAB Residential Property Survey Q2 2025
p5 New Housing Markets, “sales to foreign investors 6.8%”
p6 Established Property, “Foreign buyers however accounted for 3.3% of sales”
So the ATO figures are rubbish !