The real estate industry's attempt to see red tape cut and growth embraced by the nation has taken another step forward over recent days. The Housing Industry Association (HIA) has thrown support behind keeping negative gearing across the country.
This could be great news for investors interested in buying Belconnen real estate, as HIA executive director of Industry Policy and Media Graham Wolfe identified that changes to negative gearing would be bad news for housing affordability throughout Australia.
"New housing is one of the most highly taxed sectors in the economy, and the removal of negative gearing would only make that situation worse and discourage investment. This would in turn reduce housing supply and increase the cost of renting," said Mr Wolfe in a 16 April statement.
"Abolishing stamp duty on residential property conveyances should be the top priority for housing tax reform, making housing more affordable for both renters and owner-occupiers."
Maintaining the strength of the nation's housing market is an important aspect to focus on in the future, especially as the population continues to rise and demand for accommodation increases alongside it.
Get in touch with a real estate agent to begin searching the local Belconnen property market to expand your portfolio today.