The provisions in Labor’s policy to “grandfather” negative gearing on current investments will not protect the interests of existing investors in real estate and will put at risk planned for retirement nest eggs according to the real estate industry.
Mr Neville Sanders, President of the Real Estate Institute of Australia says “With negative gearing only available for investment in newly-built residential property existing investors will find it more difficult to sell their properties as other investors will show little interest in existing property with inevitable falls in value to follow.“
“These falls in value will in time translate to a lower standard of living in retirement as many mum and dad investors have purchased property as a means to improve their retirement living as independently funded retirees”, added Mr Sanders.
GROWTH IN HOUSING FINANCE APPROVALS RESUMES
2021 OFFERS UNIQUE OPPORTUNITY FOR LATE AUTUMN AND WINTER SALES
RENTS CONTINUE RECOVERY FROM COVID IMPACT
All-star line-up for REIA National Awards for Excellence 2021 to be held in the Top End
HOMES SHOULD BE AT THE HEART OF BUDGET 2021 AS AUSSIE JOBS COME BACK ONLINE
RAPID GROWTH IN HOUSING FINANCE APPROVALS SLOWING DOWN
AUSTRALIAN HOUSING PRICES SOAR BY 500% OVER PAST 25 YEARS