“Prime Minister Malcolm Turnbull offered no modelling, only “common sense” to justify his negative gearing policy, telling the ABC’s 7.30 host Leigh Sales that figures showing top earners had the most to gain were “beside the point”.
“Sales asked what modelling the Prime Minister had to support his claim that Labor’s negative gearing reforms would “take a sledgehammer” to property prices.
“”This is a matter of common sense,” Mr Turnbull answered.
“”Around a third of the buyers for residential property currently are investors. What Labor is proposing will take all or almost all of them out of the market.
“”If you take a third of the buyers out of the market, prices, values will fall. That’s common sense,” he said.”
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