19/09/2024
Adam Bandt… reality check with Investment Properties after tonight’s 7.30 Report….
1. Rents have NOT gone up as much as the cost to own an investment property in the past 4 years… Mortgages, Rates, Insurance, Maintenance, Land Tax have all gone up more than rents have… yes values have gone up but that’s not cashflow to fund the massive increases in holding costs…
2. You take negative gearing away, you will loose so many people investing in property who provide 30% of Australia’s homes that people rent.. so making it harder for investors means they will sell and put upward pressure on rents… how can you not see that or understand that basic fundamental..
3. Australia unlike any country in the world have most of our home loans on variable rates, not fixed rates so these higher rates along with higher inflation will decimate middle class home owners and investment owners… we truely don’t think you understand the finances and cashflow implications now of investment home ownership because if you did, you would understand that most people are having to find additional cashflow every week to hold their properties.
4. If you want more homes for people to rent, why wouldn’t you make it easier on investors for them to buy more homes and increase rental supply which would reduce the pressure on upwards prices… you talking about removing negative gearing and more rent freezes is making people get out of this asset class and YOU and Labour are contributing to the problem by creating so much uncertainty with investing in property let alone so much regulation to even build a home with stamp duty, gst, land tax and local council charges!!
Address the real problems that have caused this and don’t punish the very people providing housing for 9million Australians because your problems will get a lot worse than you can imagine!
