Housing
Background
The Leader of the Opposition cited comments from the Property Council chief executive regarding the impact of tax changes on housing supply and buyer confidence.
Question
The member asked whether the Prime Minister would release the government's housing modelling to demonstrate the extent of predicted price declines, given claims that new housing supply was falling and first-home buyer activity was decreasing.
Answer from Anthony Albanese
The Prime Minister stated that the relevant figures were already published in the federal budget. He clarified that existing negative gearing arrangements for properties acquired before the budget were grandfathered, while new investment properties could still utilise negative gearing and the capital gains tax discount. He highlighted that investor borrowing for new dwellings had reached record levels, with 8,468 investors signing up in the June quarter, representing a loan value of $5.99 billion. He noted that developers acknowledged increased demand for new builds due to the tax settings favouring this sector.
Summary in reported speech - not a transcript. AI-generated, so check the source.