and supply shortages, with the value of new investment loans doubling to around $11 million over the 12 months to end-March.won’t change generous tax perks and despite rising interest rates driving up costs and pushing down prices. They’re also attracted by stronger demand from rising immigration and the return of overseas students.
Gross rental yields range from 6 per cent in Darwin, 3.8 per cent in both Canberra and Perth and 3.5 per cent in Adelaide to 2.8 per cent in Melbourne and 2.5 per cent in Sydney, according to CoreLogic, which monitors property prices. Labor is attempting to marginally ease the rental crisis by boosting supply through a $10 billion Housing Australia Fund to build 30,000 social homes over five years, and a Help to Buy scheme with the government taking up to 40 per cent equity in around 10,000 first home purchases.The Greens, who hold the balance of power in the Senate, want property investors to be allowed negative gearing for only one property.
Growth in housing approvals is rising but is unlikely to resolve the nation’s predicted housing shortfall, according to analysis by the National Housing Finance and Investment Corporation. Investor demand is also competing with rising interest for existing homes from owner-occupiers, she says. Apartments are typically more popular with investors than houses in major cities, because they are usually cheaper, cost less to maintain and offer higher yields compared to detached houses, says Patrick Bright, a Sydney-based buyers agent.
There is no reason for negative gearing to still exist. Why are we supporting the rich ?
Because people think there's nothing else worth buying? Bitcoin fixes this.
People don't buy property because of negative gearing. Simpletons believe this.
Albanese will be happy with his portfolio
A relief particularly to politicians who all seem to own multiple properties.
Until they change back the rules for non resident citizens on LTCG.....sorry JEChalmers but our investment money goes into USA equities instead of Australian IPs. Haven't bought one since you removed the 50% LTCG for expats and won't until you do. Australia's loss.
A relief for the rich who want to be subsidised by taxpayers. Not a relief for anyone who wants a home.
no its not a relief no one should own more than one home and nor should anyone not residing in australia as a citizen should either its why we have a housing crisis.
That doesn't make sense, Properties bought in a high cycle knowing prices are falling.🤔
they should dump neg gearing for developers as they are sitting on unsold units We have a glut on a tax perk