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Chinese property investment faces Australia scrutiny

Published on Mar 17, 2014 2:49 PM

SYDNEY (AFP) - Foreign investment in Australia's housing market will be examined by a national parliamentary committee, its chair said on Monday, following a study that said Chinese investors are squeezing out local buyers.

Ms Kelly O'Dwyer said the House Standing Committee on Economics inquiry into affordable housing would probe the foreign investment framework to see whether it helps increase housing stock, and whether it is driving up prices.

"We know that the great Australian dream is to own your own home and we know that that's pretty difficult - even with two incomes and lots of years of savings and a large mortgage," Ms O'Dwyer told ABC radio.

"So we want to make sure that we're not making it even more difficult."

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