Australian housing was already cooling before the budget โ but how cold it gets depends on two key factors
Most economists believe the chronic undersupply of homes will eventually push prices higher once interest rates ease and the tax changes are priced in Get our breaking news email, free app or daily news podcast The governmentโs property tax changes have become one of the defining political issues of Laborโs second term, drawing fierce criticism from opponents who argue they represent an โassault on aspirationโ that will destroy home values. In the three weeks after the negative gearing and capital gains tax changes were revealed in the 12 May budget, housing data has begun to show how they may affect Australiaโs property market. Hereโs what the data shows, and what could happen next. Continue reading...