Australia will ban foreign investors from buying existing homes for two years to address soaring property prices in the country. The move is part of the government’s election pitch as housing affordability becomes a major issue, especially for young voters.

Australia will ban foreign investors from buying established houses for the next two years as part of an election pitch to tackle surging home prices. Bloomberg's Paul Allen and Australia & New Zealand Economist James McIntyre discuss the ban and its implications on "Bloomberg: .

Australia will implement a two-year ban on foreign buyers purchasing established homes starting April 1. Housing minister Clare O'Neil announced the move, which aims to make more homes available to local buyers,