The Labour party beleives that a capital gains tax will make housing more affordable, despite this not being the case anywhere in the world.
Their claim is that every other country has a capital gains tax…and that is about the depth of their argument.
Our closest neighbour, Australia, has a comprehensive capital gains tax…how is it working with housing affordability there?
Parts of the Sydney property market are going ”ballistic” as buyers take advantage of lower interest rates to gain a foothold.
There were 693 auctions scheduled across the city on Saturday and with 459 of the results reported to the Fairfax-owned Australian Property Monitors, the clearance rate was 83.2 per cent.
Social media was full of tales of parents spending $1 million-plus to secure their children inner-city houses. A two-bedroom terrace in Rainford Street, Surry Hills, sold to a 23-year-old university student for $1,094,000 – $119,000 above the reserve.
On the upper north shore, Pymble Richardson & Wrench agent Don MacLennan said the lower end of his market had gone ”ballistic”. Read more »