By Jason Morrison

Something about this suggests there's a little more to the story - but the Government should be commended for the action. 

The Government has knocked back the sale of four-bedroom house at Strathfield in Sydney by a Chinese purchaser under the Foreign Acquisitions and Takeovers Act because it would have been “contrary to the national interest”.

I'd argue any sale of any land to any non-Australia is against the interest of our country's future - but perhaps I'm old fashioned in this new global era. 

This is the first known rejection since the rule came in.

Bizarely, the regulations still allow foreigners to buy a new but not a 'second-hand' property - unless there are exceptional circumstances.

Chinese buyers are being largely linked to pushing property prices up  to beyond ridiculous in some in many capital and coastal cities. Great if you're selling. Hell if you're trying to get in. 

Whatever the motivation - well done Joe Hockey.