The majority of Australians want the government to focus spending on affordable home options rather than tax breaks such as negative gearing for investors according to a new survey.
A survey, commissioned by Everybody’s Home, of 2500 voters found almost half wanted the Government to focus on funding affordable homes, while only 17.5% thought tax concessions for investors should be a priority.
More than a third of respondents say housing is their biggest cost of living pressure, followed by groceries (26%), energy bills (16%) and insurance (9%).
Maiy Azize from Everybody’s Home says this could make housing more affordable.
But an analysis by the Property Investment Professionals of Australia (PIPA) says changes to tax incentives are already forcing investors to leave the market and that is not good news for renters.
It says when investors leave the market it reduces the rental pool, making it even harder for renters to find a home and putting upward pressure on rents.