Especially in light of the unexpected Brexit, to implement Labor’s policy on negative gearing will put at risk Australia’s economic recovery as it continues to transition from resource investment to other drivers of growth of which housing investment has been a significant contributor according to the real estate industry.
“Australia’s property industry is the main driver of economic growth and increased employment in the transition away from a decade-long reliance on mining, and whilst it is expected that the weakening Australian dollar will provide a much needed stimulus to a number of sectors, the impact of this is still some time away, “said Mr Neville Sanders, President of the Real Estate Institute of Australia.
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