New polling today shows that two thirds of Australian voters would prefer the Government to invest in more social and community housing to ease rental costs than continue to allow property investors to claim negative gearing tax concessions.
80% of Green voters, 79% of Labor voters and 53% of Coalition voters preferred investment in social housing over continuing with the current negative gearing policies.
Just 24% of younger voters aged 18 and 34 preferred investment in negative gearing tax concessions, compared to 38% of voters older than 55.
Despite softening property prices in some capital cities, voters still ranked increasing affordability as the 4thmost important issue for the Federal Government to address over the next 12 months, ahead of limiting Australia’s migration rates.
Everybody’s Home campaign spokesperson, Kate Colvin, said housing affordability is clearly a critical issue for voters ahead of the election.
“Right genuine home buyers are missing out to people building investment portfolios and growing competition for rental properties is driving up prices and rental insecurity,” Ms Colvin said.
“Australia’s chronic shortage of social and affordable rental options means more than 800,000 households are living in serious rental stress and as a nation we now have record levels of homelessness.
“Capital gains tax and negative gearing handouts for property investors are costing Australia $11.8 billion a year – money that could and should be invested instead in helping to deliver the 500,000 social and affordable rental homes for Australians who cannot even afford to buy their first home, let alone a second or third.”
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