The federal budget's housing measures have been described as 'bold first steps' towards structural change, but academics and renters say they will do little to help Australia's 'forever renters'—those unlikely to ever afford a home.
Alyssa Shaw, 36, has moved 25 times in 15 years. She says the Albanese government's changes to property tax concessions are 'meaningful' for some but won't help renters like her who are nowhere near buying. Treasury modelling shows the reforms will slow property price growth by just 2% over two years and add only $2 a week to median rents.
The changes, effective from 1 July 2027, will remove negative gearing and halve the capital gains tax discount for new investment properties. The government expects this to help 75,000 extra Australians into home ownership over a decade. However, Swinburne housing expert Professor Wendy Stone says for long-term renters, 'this budget doesn't necessarily change that picture'.
Koushalya Pereiaslov, 26, a support worker, says she spends half her pay on rent and saving for a deposit is impossible. 'I always feel that someone else is kind of writing my story for me,' she says. The Coalition has vowed to repeal the changes if elected, while the Greens say the reforms entrench inequality by grandfathering tax breaks for existing investors.
