Overseas Investor

I've got the anwer for that.

If you're not a permanent resident, you are prohibited from acquiring established dwellings for investment purposes (i.e. they cannot be purchased to be used as a rental or holiday property), However, as a temporary resident, you can apply to purchase one established dwelling to use as your residence in Australia, providing that you will sell the property when you leave the country.

New dwellings purchased off the plan or after construction is complete, however, can be used as a rental/holiday property, or be kept as your own residence in Australia regardless of your migration status or travel plans.

For more details, go to:

http://propertyportfoliospecialist.com/2010/08/foreign-investor/

Tim,

Yes you can still purchase property within Australia, and not be a permanent resident of Australia

I deal with these types of issues daily, if you want to have a chat please dont hesitate to call me on 0405538613 or my free call number 1300 338 984

Zac

This is not correct. There are millions of people who permanent residence who purchase as well.