Property investors fear forced sales under negative gearing changes
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Sydney architect Chirayu Shah says he and his wife could be to forced sell their home at a loss and unable to offer their children housing security down the track.
  • Mountaineer@aussie.zoneEnglish
    0·
    2 months ago

    Purnell Real Estate principal Nick Purnell, who bought an apartment in Canberra as an investment property in 2020, said people will stop investing in property if negative gearing is abolished.

    Don’t threaten me with a good time.
    Investors, with their ability to outbid potential owner-occupiers are a significant component in the current rise in housing prices.
    Those rising house prices are DIRECTLY related to the raising rent prices.

    Negative gearing was implemented to achieve a change in the market, a large thumb on the scale by the government.
    Now it’s time to step back and reassess the market and figure out what we need to do to achieve our desired outcomes.

    Million dollar plus shoe boxes, whole suburbs dominated by short term rentals, people using the 15% equity on their 4 investment property to back a 5th in a giant house of cards gamble are NOT HELPING.