Make no mistake, the average property investor is not a multi-millionaire, it’s a person who owns just one investment property and has an income under $80,000.
It is foolish to think that only allowing negative gearing on new dwellings will fix anything as new dwellings are always going to be more expensive than existing properties.
"Limiting negative gearing to new dwellings will only add a distortion that reduces investment in housing, erode housing affordability and put upward pressure on rents."
“Our concern is that Labor’s policy is a populist response to those who demonise housing and negative gearing as primary cause of our fiscal and social problems."