Record investor surge in new home construction follows tax changes

Investor loans for the construction of new housing have risen to record levels in the aftermath of the Albanese government’s major changes to tax settings for investors. Aussie property investors notched a record number of loans for the construction of new dwellings in the June quarter. Australian Bureau of Statistics data shows an unprecedented 8468 investors signed up to build a new home in the June quarter, 454 more than the previous record set in the previous three months. It also came with a record of almost $5.994bn in loan value being borrowed for the builds, more than $1.32bn above the same time a year ago. RELATED: $1bn worth of Aus shopping centres dumped ‘Low’: Report today to force RBA to cut rates Entire Aus island for sale for less than Sydney home The figures are completely against the grain of the wider investor pool around the country, with a 5000 loan plunge. It follows Albanese government changes to property investor tax settings that now mean the only way to access negative gearing is to build a new residence, while a 50 per cent discount for capital gains tax is also now tied to boosting housing supply. However, industry figures released after June have suggest...