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First home buyers 'up and about' at auctions after negative gearing changes
One auctioneer says younger buyers are "up and about" in response to the government's tax reforms. (AAP Image: Diego Fedele)
First home buyers say they are encouraged by the government's reforms to negative gearing and the capital gains tax discount, at the first Saturday auctions since Tuesday's federal budget.
Prime Minister Anthony Albanese says the changes are aimed at levelling the playing field for young buyers bidding against property investors.
The opposition has pledged to roll back the changes, saying fewer investment buyers will mean increased rent, but economist Saul Eslake disagrees, suggesting a shift by investors to new builds will dampen rent price inflation.
Macquarie changes lending policies to reflect negative gearing ban
Macquarie has told its network of mortgage brokers to update their lending policies to apply the federal government’s ban on negative gearing for existing properties, even though it has not yet passed as legislation.
Macquarie decided to move quickly, even before the law passed parliament, after the government said the changes were effective from the federal budget.
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