Last edited by witherwings; 26-02-2016 at 22:23.
People seem really confused about what is being proposed. My understanding is that if you have properties that are currently negatively geared they can stay that way, it will only be for future purchases.
The way prices will come down is because negative gearing would only be offered on new builds, hence increasing housing stock. And there would be less competition for purchasing existing houses as investors would either have to positively gear in this instance or wear their losses.
Anyway I totally agree any big change in policy needs years for meaningful data to be established on the effect. The plural of anecdote is not data
Land value in Blacktown (very working class suburb) increased 47%
This is the cheapest house I could find in Blacktown which is 35km from cbd. The rest of the houses were well over $600k and some were close to $1 million. And this road this house is on is a very busy main road.
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A block of land in Sydney's outer suburbs is more expensive than a house in Melbourne.
What $1 million can buy you in Sydney...how many first home buyers are in the $1 million market?
Would you want to live in Elizabeth? Because that's about the only comparable option available to people in Sydney. And even then, houses are all still over $400k. As I posted earlier in the thread, housing commission area, cheapest house available for sale is $409k. If I didn't own a house and this was my only option I wouldn't buy. I grew up around there and I work there, no way I'm raising my own kids there. This is where the show struggle street was filmed. No thanks.
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I really don't think people understand the ridiculous house prices in Sydney.
The first home owner grant is available for new dwellings only that are under $750k. You would be pushing shiz uphill to find property like that in Sydney.
Last edited by BigRedV; 27-02-2016 at 05:23.
Ra Ra Superstar (27-03-2016)
Last edited by BigRedV; 27-02-2016 at 05:30.
I don't understand negative gearing 😜 but we have a old house paid 210,000 in Adelaide. Most people in Adelaide want a new house. Not cheap not crap in a good area. Ours is in 'bad ish' area. We have rented it out now again to move she told me to get the tax depreciation thing.
I think MOST people could afford a house. Just like we could go on a holiday if I didn't drink coffee out or eat take out during the week. And DH didn't drink a carton a week. These are my examples.... If mums didn't spend hundreds in Kmart on cheap crap every time the new stuff comes out
It's hard you just have to save.
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