Delays on foreign investment changes could lead to farm-buy rush: Nationals

The National party has warned there could be a rush of foreign investors buying farms if the Coalition does not quickly implement its foreign investment review changes.

The Coalition plans to lower the price threshold for scrutiny of foreign purchases of rural land from $248 million to $15 million.

Nationals senator John Williams told a post-election meeting that the government would need to act quickly to mitigate a rush of buyers coming in before the new threshold comes into place.

“I want to see these things done sooner rather than later. If the message is out there that we are going to tighten regulation, there could be a mass purchase of some properties to get in before the rules change,” he told the meeting according to The Australian Financial Review.

Fiona Nash also says the government needs to move quickly.