The Newspoll results on the Federal Opposition’s proposed changes to negative gearing for property underscores the need for more details about their impact on the Australian economy and households.
“The slide in home lending activity in September 2018 has taken the number of loans to owner-occupiers down to the lowest level that we’ve seen since 2013,” said HIA Acting Principal Economist, Geordan Murray.
“As the housing markets in Melbourne and Sydney continue to cool it will be increasingly important that households have clear guidance on any potential changes they may face in home lending,” said Geordan Murray, HIA Senior Economist.
“The Victorian Premier has highlighted the volatile nature of stamp duty revenue,” said HIA Executive Director Victoria, Fiona Nield.
“The indexation of Stamp Duty is a step forward in reducing the taxation imposts on housing,” stated Tim Reardon, HIA’s Principal Economist.
“The pace of increase in rents remains at its slowest in 25 years,” said Shane Garrett, Chief Economist of Master Builders Australia.
Around a dozen jobs will be created during the construction of a subdivision at Galiwin’ku, the north-east Arnhem community that inspired the Warumpi Band’s hit, My Island Home.
The number of dwellings approved in Australia fell by 1.9 per cent in September 2018 in trend terms, according to data released by the Australian Bureau of Statistics (ABS).
“Approvals for new detached houses across Australia are at their lowest ebb since late 2013,” according to Shane Garrett, Chief Economist of Master Builders Australia.
“The trend of a cooling housing market, which has been evident throughout 2018, continued in the three months to September 2018 with approvals now 6.6 per cent lower than the preceding quarter,” stated Tim Reardon, HIA’s Principal Economist.