The government's proposals on negative gearing changes for housing investors will choke supply of rental properties... Auction volumes jump past 2,000...
Rents will rise with negative gearing changes: Mortgage Choice boss
The government's proposals on negative gearing changes for housing investors will choke supply of rental properties and rents will rise as a result, says Mortgage Choice CEO John Flavell, the Sydney Morning Herald reports.
"Any changes you are going to make could have some very deep and significant impacts, and I would be surprised if anybody would be bold enough to do anything."
"I do not see how you can be talking about affordability on one hand and talking about effecting changes in relation to negative gearing on the other," he said.
"Anything that could increase pressure on the volume of new stock coming into the market is going to create increased pressure on affordability. With the sort of changes being talked about, that will create some of that pressure – and will make a problem we have in front of us even more acute."
Auction volumes jump past 2,000
Australia’s auction market has kicked up a gear, with figures from CoreLogic RP Data revealing more than 2,000 auctions are set to be held across the country this week.
According to CoreLogic, 2,005 auctions are scheduled for this week, up from the 1,400 that returned a national clearance rate of 71.8% last week.
Close to half of those will be held in Melbourne, with the Victorian capital set to hold 949 auctions this week.
That figure is up from the 556 auctions that were held last week in Melbourne and delivered the Victorian capital a clearance rate of 74.4%.
Melbourne is also home to Australia’s busiest suburbs this week, with Richmond to hold 24, while 16 will be held in Bentleigh and Reservoir.
Last week saw Sydney return a nation-leading clearance rate of 78.1% and vendors will be hoping the city can produce a similar result this week after a solid jump in volumes.
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The government's proposals on negative gearing changes for housing investors will choke supply of rental properties and rents will rise as a result, says Mortgage Choice CEO John Flavell, the Sydney Morning Herald reports.
"Any changes you are going to make could have some very deep and significant impacts, and I would be surprised if anybody would be bold enough to do anything."
"I do not see how you can be talking about affordability on one hand and talking about effecting changes in relation to negative gearing on the other," he said.
"Anything that could increase pressure on the volume of new stock coming into the market is going to create increased pressure on affordability. With the sort of changes being talked about, that will create some of that pressure – and will make a problem we have in front of us even more acute."
Auction volumes jump past 2,000
Australia’s auction market has kicked up a gear, with figures from CoreLogic RP Data revealing more than 2,000 auctions are set to be held across the country this week.
According to CoreLogic, 2,005 auctions are scheduled for this week, up from the 1,400 that returned a national clearance rate of 71.8% last week.
Close to half of those will be held in Melbourne, with the Victorian capital set to hold 949 auctions this week.
That figure is up from the 556 auctions that were held last week in Melbourne and delivered the Victorian capital a clearance rate of 74.4%.
Melbourne is also home to Australia’s busiest suburbs this week, with Richmond to hold 24, while 16 will be held in Bentleigh and Reservoir.
Last week saw Sydney return a nation-leading clearance rate of 78.1% and vendors will be hoping the city can produce a similar result this week after a solid jump in volumes.
You may have missed:
Building top brokerages from the ground up
BDM in the spotlight: Mathew Aiono
What are the consequences of the investment lending crackdown?
