Investors and first-home buyers forced into battle for new and cheaper Sydney homes

Labor tax reforms have launched a mass investor exodus from the housing market while squeezing the few remaining landlord buyers into areas where they’re in direct conflict with first-home buyers. Experts explained a turf war was emerging between investors and first-home buyers for Sydney’s scant supply of new homes and cheap housing, which was linked to budget reforms on negative gearing. It comes as ABS figures showed investors applied for a record number of loans for newly built homes in NSW over the June quarter, resulting in a record $1.53 billion pouring into the sector. This occurred across a backdrop of massive falls in investor demand across the established housing sector and cratering demand among all buyer types at the top and middle of the market for pricing. Prime Minister Anthony Albanese’s clampdown on investors was meant to help first-home buyers. Picture: NewsWire / Martin Ollman. Additional Loan Market data showed the biggest rise in demand for investment loans was in outer Sydney suburbs dominated by house and land packages. They included northwest suburbs Kellyville Ridge, Marsden Park, Schofields and Box Hill, along with southwestern suburbs Edmondson Park, Cec...