Spooked investors could see house prices sink after big budget changes

Australia's government overhauled property taxes Tuesday, limiting negative gearing and capital gains discounts to new builds from July 2027. Treasury forecasts price growth will slow 2 percent over three years with minimal rent impact, but banks warn spooked investors could trigger sharper short-term declines. Commonwealth Bank estimates house prices could fall almost 3 percent, or about $20,000 per average.

Summary by Glance · SMH