Clare O'Neil (Hotham, Australian Labor Party, Minister for Housing) | Hansard source

I appreciate that question from the shadow treasurer. Again, I'm being asked effectively the same question that I was asked just before. Let me come back to a bit of advice to those opposite. The impact of the budget changes on house prices is actually in the budget documents, and I would really encourage those opposite to have regard to those documents. I'm going to refer to page 5 of the factsheet on CGT and negative gearing, and I'm quoting directly from the budget:

Treasury modelling suggests that the reforms will increase the owner occupier share of the housing market, resulting in around 75,000 additional owner-occupiers over the next decade.

I continue:

This is equivalent to reversing around 10 years of declines in the home ownership rate.

The document goes on to say:

The reduction in investor demand is expected to lead to a small and temporary slowing in house price growth, estimated to see prices grow by around 2 per cent less over a couple years relative to no tax policy change.

It's there in the budget documents, and I'd encourage those opposite to actually read them.

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