A report was published by SQM yesterday on 21 March 2019. Based on its new modelling taking into consideration of
- current market condition,
- possibility of RBA further interest rate cut,
- labor’s proposed changes of grandfathering negative gearing and capital gain tax discount
suggests if labor elected in May election, in next three years
- Capital city rents would increase by up to 12%;
- House prices would continue to fall up to 8%;
- Property sales would drop as much as 15% leading to a loss of 2.3 billion in stamp duty revenue; and
- Up to 30% fall in forecast construction activity to June 2022.
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