Proposed changes to negative gearing will drive up rents and hurt poor families, experts warn

Posted by Simon Dehne on February 16, 2016 in Latest News with No Comments

rentalLANDLORDS warn they will hike up rents if negative gearing is scaled back.

Labor Party leader Bill Shorten announced Saturday a proposal to limit negative gearing to new housing from July 2017, but property experts have slammed the proposed changes, arguing they will drive a spike in rents and, possibly, home prices.

Founder of the Binvested Group Nathan Birch, the owner of 200 properties, said he will raise his rents should the proposals come to light and will advise his network of investor clients to do the same.

“Mum and dad investors will need to recoup their losses, so they’ll raise their rents. It will push the whole market up,” he said.

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