Housing industry warns Labor's taxes will cut 10,700 dwellings by 2029
Industry modelling shows Labor's housing tax changes will cut new dwelling starts by 10,700 and raise rents.
Four industry groups commissioned analysis. Master Builders Australia, the Housing Industry Association, the Property Council and Real Estate Institute of Australia were involved.
The analysis forecasted Labor's housing tax changes would cut new dwelling starts by 10,700 between now and 2029-30. The combined impact would push rents up by roughly $10 a week.
It would also reduce cumulative GDP by about $1.05 billion. The changes could cost more than 4,700 construction jobs.
Coalition Deputy Leader Jane Hume used the figures to attack the government on Friday. Health Minister Mark Butler rejected the modelling.
He argued that property and construction groups have a financial interest in opposing the policy. Butler pointed to record loan approvals for new homes as evidence the government's measures are working.
- 10,700 by 2029-30
- Dwelling starts cut
- $10
- Weekly rent rise
- $1.05 billion
- GDP reduction
- 4,700
- Construction jobs lost
Why it mattersHousing policy affects whether young Australians can afford homes and whether construction jobs stay stable.
AustraliaIf accurate, the modelling suggests Labor's policies could make renting more expensive and slow new home construction across Australia.
✓ Claims checked against the source. checked 12 h ago
