I honestly don’t think it’s going to happen unless a government with real teeth and a strong voter base to keep them in power arises. Right now Labor is doing everything it can to keep it’s centrist voters.
Only 1% of Australian taxpayers own nearly a quarter of all property investments across the country, amid concerns over escalating rates of wealth concentration.
Data provided by the Australian Taxation Office has revealed the extent of that concentration, with more than 7% of property investors – or 215,321 people – accounting for 25% of all property investments.
That 7% also have three or more interests in investment properties across the country, with 1% of investors – or just 19,895 people – currently holding six or more investment interests.
And that is only the top 1% of tax payers (which is only 7% of investors), I can’t imagine what percentage of property investment is owned by the top 10% of tax payers.
farout i still remember when it crossed $1m, didnt seem that long ago. how on earth is 1.4m median… i truly dont get it
Private equity, negative gearing, essential resource and no sign anyone’s going to be reigned in. We’ll only get off this ride when it derails
I honestly don’t think it’s going to happen unless a government with real teeth and a strong voter base to keep them in power arises. Right now Labor is doing everything it can to keep it’s centrist voters.
Considering
And that is only the top 1% of tax payers (which is only 7% of investors), I can’t imagine what percentage of property investment is owned by the top 10% of tax payers.
From: https://www.theguardian.com/australia-news/2023/jun/04/a-quarter-of-australias-property-investments-held-by-1-of-taxpayers-data-reveals
Sydney is an international city, and everyone all over the world wants a piece. That’s how.