The biggest home builder in NSW is seeking urgent clarity from the Albanese government that its new land development business, as well as its practice of buying lots for speculative home builds, won’t be hit by measures in Tuesday’s budget aimed at preventing foreign investors land banking.

NEX Building Group, which operates under brands including McDonald Jones Homes, has been majority owned by Japan’s Asahi Kasei Homes since 2021, and as a foreign investor in Australian housing wanted to get confirmation from federal Housing Minister Clare O’Neil about how any new crackdown would affect it.