Treasurer on property measures and economic growth
Treasurer Josh Frydenberg recently discussed the importance of the property market, and the government support schemes, to our economic recovery.
In summary;
Property taxes, particularly negative gearing, remain a hot political topic and retain support from the coalition, whilst labour have been open about their intent to scrap these measures. 1.3 million Australians have negatively geared properties, and it is also expected that the removal of such tax incentives would have a negative impact on property demand into the future
Home ownership schemes have been a key driver of the economy. The HomeBuilder scheme has seen increased activity in both construction and the housing sector, which along with the First Home Super Saver and Home Guarantee schemes have driven a 70% increase in first home ownership over the 10 year average
Our lowest population growth in a century continues to hamper the size of the economy, and whilst it’s expected to increase with border reopening this measure will impact the economy for some time to come
