This isn’t just population pressure. During the 2020–2022 COVID border closures, when net migration was near zero or negative, house prices still jumped by around 30% nationally. This shows how much of the market is being driven by tax‑fuelled speculation rather than just extra demand from new arrivals.
This was the time when the govt tipped a bucket of cash into the pockets of most Australians. For lots of small businesses you just got a free $20k for each employee. Suddenly everyone could afford a home or an investment property.
More broadly, housing is a complex problem. I absolutely agree that CGT concessions and negative gearing needs to be addressed, but these are just part of the puzzle. Supply is part of the problem, as is zoning, affordable housing, social housing, short-stay accommodation, and so on.
Sorry mate way off base here:
This was the time when the govt tipped a bucket of cash into the pockets of most Australians. For lots of small businesses you just got a free $20k for each employee. Suddenly everyone could afford a home or an investment property.
More broadly, housing is a complex problem. I absolutely agree that CGT concessions and negative gearing needs to be addressed, but these are just part of the puzzle. Supply is part of the problem, as is zoning, affordable housing, social housing, short-stay accommodation, and so on.