Negative gearing causing house prices in Sydney and Melbourne to skyrocket, report says

Posted by Simon Dehne on March 7, 2016 in Latest News with No Comments

House_auctionA new report on the housing affordability crisis in Sydney and Melbourne calls for the Federal Government to urgently rethink its support of negative gearing.

The report, Sydney and Melbourne’s Housing Affordability Crisis – No End in Sight, was written by Dr Bob Birrell and David McCloskey from Monash University’s Centre for Population and Urban Research.

Key points:

Report reveals the record-high housing prices in Sydney and Melbourne would lead to social problems
Report’s author says governments have created the conditions for major concessions for investors
REIQ says changing negative gearing was not the answer as the main issue was the constraint on supply
Dr Birrell said the report highlighted the seriousness of the problem.

“These governments have abandoned the current generation to a lifetime of rental properties,” Dr Birrelll said.

Read more.

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