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    Auction clearance rates drop to 50 per cent following changes to negative gearing and capital gains tax
    Australia

    Auction clearance rates drop to 50 per cent following changes to negative gearing and capital gains tax

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    29 Comments

    1. blitznoodles on

      > But he said the changes were largely impacting the investor market and not first home buyers.

      Also the ABC has once again printed the idea that properties disappear when first home buyers buy them.

      > “So our fear is that we will see the investment pool start to shrink, that we’ll see rental properties become more scarce, less readily available, certainly in areas that have already been built up and developed.

    2. 123chuckaway on

      > Negative sentiment around the property sector has started to make its way into the marketplace since the federal budget, but real estate experts say it may prove to be *good news for first-home buyers*.

      …

      > Cotality research director Tim Lawless said *the market was already cooling* before budget night. 

      How could Albo do this?!

    3. Thoresus on

      ‘Negative sentiment around the property sector has started to make its way into the marketplace since the federal budget, but real estate experts say it may prove to be good news for first-home buyers.’

      So the policy is already working. Great news!

    5. DCOA_Troy on

      Alternative title based on the data in the article:

      Auction clearance rates rise in Melbourne, Perth and Adelaide following changes to negative gearing and capital gains tax

    6. Snck_Pck on

      Good. Our asshole landlord is selling the house we’re in because of these changes. He’s been a nightmare to deal with and now I can’t wait for him to struggle to sell this house because he’s asking for 1.2m, which to an investor who could’ve rented this out was probably doable, but now he’s gonna be limited to rich folk. Which is fine except we’re in the ghetto

    8. R_W0bz on

      Auctions suck anyway, if you’re a first home buyer it’s not worth it because your maximum gets blown out of the water as soon as the “downsizing” boomers show up.

    11. fitblubber on

      I know a couple of people who went to a house auction yesterday.

      They reckon this article is complete BS.

    13. Nieno on

      Hell yea we’re back baby.
      A house is a place to live, love and grow in. Not a way to extort money from other Australians. Everyone deserves to be able to own a home.

    14. Chilliwhack on

      Good. Now let’s do something about regulating Air bnb’s and hey you might have this crazy thing happen where people can actually live in the areas they grew up in.

    16. eat-the-cookiez on

      So we are just ignoring ww3 and interest rate hikes and cost of living ?

    20. sjenkin on

      People are still bidding, sellers will take some time to accept that the market isn’t running up the way it has in previous years / months. The days of listing a property for $1.1-$1.2m and not accepting and offer in the stated range is over.

    22. JapanEngineer on

      I’ve seen this post 6 weeks in a row.

      How can it be dropped to 50 percent 6 weeks in a row?

    24. snice1 on

      Looking at NSW they have been trending down pretty much all year, and been below 50% for months.

      It’s a bit early to be playing fanfares.

    25. briberylibrary_ on

      Gotta be careful of the post hoc fallacy here. Just because these drops happened after the negative gearing and capital gains tax changes does not mean they are caused by them. Haven’t there been multiple rate rises, growing unemployment, cost of living impacts and threats of a recession?

      Case in point from the article:

      > Before May 12, auction clearance rates were trending downward nationally, with the week-on-week reduction consistent with the seasonal pattern typical for this time of year.