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Build-to-rent investors 'ambushed' by Scott Morrison's sudden trust change

Jacob Greber

Treasurer Scott Morrison's highly anticipated affordable housing push has hit a roadblock after the government unexpectedly announced limits on managed investment trusts that industry figures say will cruel the supply of new dwellings.

The property and construction industry are reeling from a surprise announcement by the Treasurer that as of 4:30 pm Thursday, so-called MITs would no longer be able to buy residential property other than affordable housing.

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Jacob Greber was The Australian Financial Review’s senior political correspondent. Connect with Jacob on Twitter. Email Jacob at jgreber@afr.com

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    Original URL: https://www.afr.com/news/economy/buildtorent-investors-ambushed-by-scott-morrisons-sudden-trust-change-20170915-gyigzj