Sounds like we should scrap all the concessions and then landlords will only buy investment properties when they make financial sense without the rorts and concessions. Or implement the Danish model where people can only buy 1 second property. Following the Denmark rule, another way to stop the ridiculous unsustainable house prices in Australia is to limit foreign ownership to people who have resided in the country for 5 years.
I understand that property investments in Australia are an attractive investment due to the concessions given to landlords, but it's really *smile* up the market. Unfortunately, with so many people now using investment properties to fund their retirement, no government will bring in thew wholesale changes that are needed to ensure housing is affordable for those not already in the game.
The average Australian in 1984 could buy a home that cost 3.3 times their annual income. In 2023, it's 10 times what the average person earns in a year. CGT concession for property investment was introduced in 1985, as was negative gearing. It's a mess, but I really don't know how it can be corrected because no government will survive if they try.