Interesting housing policy of Australia, should we use it in Canada?

mmpleaser

Just read Economist article on Australian agri bussiness being bought by foreign companies such as Chinese.
One short statement about house buying policy.
NON RESIDENT foreign investors are NOT allowed to buy houses (resales), but ONLY to buy New housing stock (NEW HOUSE).
So once a house is built, it cannot be bought by ANY FOREIGN speculators.  So their demand will be depressed, but that also means NEW house price cannot be raised much higher out of the range of resale houses.
It could be a WIN WIN situation, Win for local residents and may be Win for foreigner who wants to keep the house and not selling or speculating right away.