Australia Treasurer Hockey Referred Neighbor for Property Probe

Treasurer Joe Hockey says in Melbourne radio interview that he referred one of his ‘neighbors’ for potentially breaching foreign investment rules. * Neighbor had won approval for house purchase on ‘pretty spurious grounds’; waiting to hear back on outcome of investigation * NOTE: Hockey lives in North Sydney; Australia is investigating 195 home sales to foreign investors for potentially breaching foreign investment rules, he said in an e-mailed statement Tuesday * Property buyer bought heritage house within a kilometer of Hockey’s property; purchaser said they were going to add to housing stock by building a small flat on the same property * “It denies an Australian the right to purchase a house in Australia if someone unlawfully purchases a house in Australia”

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