The real reason houses are so expensive - and it’s not negative gearing
Eliminating negative gearing and ditching capital gains tax discounts will not solve the worsening housing affordability crisis, but boosting supply by easing planning rules will, a new report says.
Centre for Independent Studies chief economist and former Reserve Bank official Peter Tulip said restrictive planning rules have added more than 40 per cent to house prices in Sydney and Melbourne, while property taxes boosted values by 4 per cent at most.
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