News

The Property Council of Australia has commissioned a Newgate poll that has found Labor’s proposed negative gearing changes will discourage property investors.

Buyers’ agents are saying the asking price for properties stuck on the market long term are being heavily discounted – sometimes by as much as 40 per cent.

Broker group Finsure says if some of the recommendations from the Hayne Royal Commission are brought in it will set the Australian home loan market back 30 years because it will give the banks more power.

Property investors have been popping up back out of the woodwork searching for super-cheap bargains before a possible Labor election win and subsequent negative gearing changes.

Business conditions have remained flat since falling sharply in December according to the recent NAB survey and it has the bank predicting interest rates to be on hold until 2020.