[Podcast] Is the 2019 Federal Budget positive or negative for property | PROPERTY INSIDERS Podcast

While the Labor party have indicated that if they come into power they intend to introduce a number of taxes that will directly affect our property market, the 2019 Liberal Federal Budget made little mention of our property markets.

However there was plenty of good news in the Federal Budget and many of the key initiatives will help promote economic growth which will be positive for our property markets. 15property Insiders

While our economic fundamentals are generally sound, home buyers and property investors are suffering from a crisis of confidence and our housing markets won’t rebound until consumers feel more confident about their job security, our political stability, certainty about the tax treatment of property investment and when the media stops scaremongering about a 40% crash in house prices.

Fortunately there was plenty in the budget to boost consumer confidence.

The proposed tax cuts and giveaways will add to household disposable income

Our economy is back on track with a surplus and there are measures in the budget to give small business incentive to invest, create jobs, hire more people and take on more apprentices.

So what does the budget mean for property – that’s the topic of this week’s property insider chat with Dr Andrew Wilson..

Listen as we discuss:

  • Infrastructure investment will help underpin our economic growth not just in our big cities but also in regional Australia as new jobs are created and local resources are used to leave a legacy for future generations.
    WR-Andrew-Wilson
     
  • Migration has been reduced to 160,000 per annum (down 20,000) and this is clearly negative for housing and our economy. While these numbers are still robust, it should be remembered that migration has been a clear driver of our economy through jobs growth and better budget outcomes as immigrants are coming here for jobs, they buy goods and pay taxes
  • At the same time the RBA changed its narrative at its April meeting suggesting it is now prepared to support the economy if required. In other words, it will be prepared to cut interest rates if our economy falters or if unemployment rises. This is again positive for property.

The bottom line:

The Budget will encourage confidence and support house prices, but as it is unlikely to be enough to keep Liberal Party in power at the upcoming election, be prepared for a raft of tax changes that could be negative for our property markets.

You can also watch the video –  Is the 2019 Federal Budget positive or negative for property | PROPERTY INSIDERS

Your Property Insiders:

Michael Yardney – Metropole Property Strategists

Dr. Andrew WilsonMy Housing Markets

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Michael is a director of Metropole Property Strategists who help their clients grow, protect and pass on their wealth through independent, unbiased property advice and advocacy. He's once again been voted Australia's leading property investment adviser and his opinions are regularly featured in the media. Visit Metropole.com.au


'[Podcast] Is the 2019 Federal Budget positive or negative for property | PROPERTY INSIDERS Podcast' have 2 comments

  1. Avatar

    April 10, 2019 Hilda Caceres

    Please do not send again your politics

    Reply

    • Michael Yardney

      April 10, 2019 Michael Yardney

      Hilda – yes when I write about certain things I know I’m always going to offend somebody and politics is one of those topics.

      Having said that this was not a political blog – it was a commentary regarding the federal budget and how it will affect the value of my home and yours (if you’re interested.)

      I think is that election draws nearer I am going to keep writing about topics that will be of interest to my readers and how they will affect them – however I’m not going to suggest to one should vote for – that’s not my place

      Reply


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