Kaylee Cranley
Updated 30 Apr 2026, 1:15pm
First published 30 Apr 2026, 1:14pm
Possible tax reforms in the upcoming Federal Budget could lead property investors to reassess their strategies, with the potential for policy upheaval to alter the demand for certain assets in the market that were once favoured.
While new data is pointing to already shifting investment patterns, some investors are taking a wait-and-watch approach before making any changes.
It highlights that many of the impacts of policy changes may take years to emerge, something that has been lost in a lot of the recent discourse around proposed negative gearing and capital gains tax reforms.
Sydney-based investors Joe and Gianna Ciardi, who own nine properties bought through buyers agency InvestorKit, said their investment strategy has always been for long-term growth.
“Personally, and my wife agrees strongly, investing is something that we think we want to do methodically and over time,” Mr Ciardi said.
“As far as what we want to do with the property that we own at the moment, its hold and they’re tenanted.
“Then that strategy may adapt over time if it needs to, but for the moment that’s where we are now.”
Joe and Gianna Ciardi with their daughter Grazia, 4, at home in Putney, the family have a portfolio of nine investment properties. Picture: Jonathan Ng
The Ciardi’s freestanding home investment portfolio includes assets in Queensland, NSW, Victoria, South Australia and Western Australia.
Mr Ciardi said investment strategy works best when it is driven by data and long-term thinking.
“We don’t build investment decisions based on speculation or headlines we’ll wait for the facts,” he said.
“I’m adamant – you don’t invest based on feelings.”
Mr Ciardi said depending on what the changes to CGT discount end up being will define if they make any future changes, but its not currently in their plan.
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Joe Ciardi said they don’t plan on making any changes to their investments until any tax reforms are confirmed. Picture: Jonathan Ng
“Once anything is confirmed with respect to CGT changes or negative gearing changes, then we’ll look at the specifics of what those changes are against our broader strategy and then we’ll adjust the strategy if we think we need to,” he said.
“At the same time, we’ll take in all the advice from the experts that we surround ourselves with.”
This comes as new data has revealed some property investors have started to abandon major housing markets in Sydney and other regions as the federal government considers changes to capital gains tax and negative gearing.
The new figures spotlight a rapid decline in new investment activity across many areas that had until recently been frequent targets of investor spending.
New data reveals a rapid decline in investment activity across many areas that had until recently been frequent targets of investment spending
Sydney – along with Brisbane and Perth – recorded some of the biggest drops in investment activity, measured by the number of homes purchased by investors and then listed on the rental market.
New rental supply over the past quarter fell by more than 15 per cent in parts of Greater Sydney compared to the same quarter in 2025, with the city as a whole seeing an 8.4 per cent drop in investor purchases.
Tax reforms are set to be announced at the 2026 Australian Federal Budget on May 12.
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