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Two-thirds of investors to snub property under Labor

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Your Investment Property | 03 Apr 2019, 12:09 PM Agree 0
More than 70% of investors have confirmed they will ditch second-hand property if Labor gains power and changes negative gearing rules, according to a new survey
  • Ben | 03 Apr 2019, 03:50 PM Agree 0
    The title of the article does not match the content. The content indicates that 2/3rds of investors will ditch 2nd hand property and shift to new property, whereas the title infers they will ditch all property investment. Ditching 2nd hand property investment is good news from a property developers point of view because not only will they have more investors for new developments of all categories, but the old properties that they wish to buy and develop will be cheaper. It is also good news for people buying with the intent of occupation, because with lower old house prices, they will be encouraged to buy closer into cities. Isn't this the intent of the policy and what we need to increase property ownership across a broader cross section of the community? However I think that the underlying demand for homes, both old and new, will keep prices going up in the long term so the effect of removing negative gearing on old homes will be temporary- supply and demand will adjust and create a new equilibrium.
  • Pauline O’Hehir | 03 Apr 2019, 08:28 PM Agree 0
    I agree, it will be a terrific change that provides something and opportunity for all levels of society. Seems madness that so many are bankrolling their children to actually afford a home because of cost and no tax offsets, and a lot of the same parents also have negative gearing tax offsets. At least for fairness own home mortgage payments should receive tax offsets. Whole market is out of sync and preventing a broad cross section of population demographics to live in serviced inner and outer areas as they prefer.
    Regional cities are now being priced out of reach because agents gleefully report 40 to 45 percent are interstate or major city investors. Where is the fairness. How about asking people other than lobbyists about their thoughts.
    Fairness and equality of access to own a home is needed in our increasingly selfish country.
  • Arthuro | 04 Apr 2019, 03:37 PM Agree 0
    Reads like an article written by a pro developer anti labour individual. Anyone with a basic level of economic understanding knows that negative gearing as it stands actually holds back economic growth long term, and concentrates wealth. Great for the boomers not so their kids.
  • julie | 17 Apr 2019, 12:38 PM Agree 0
    I think I will just work less! Won’t get any further working more if labour gets in
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