The slow-burn backlash to the proposed tax changes in last week’s budget is still smouldering away, with claims and counter-claims from the Hanrahans of politics, property and economics, that “we’ll all be rooned.”

It’ll hurt young people who need to rent and older people who want to flip houses and flats to maximise their profits.

But it will help people who want to buy a house or apartment to live in, and shift investment to new builds (which is what negative gearing was first intended to do).

Ah, but it will push house prices back up again, as first-time home buyers move in. And new apartment blocks will have no owner-occupiers in them (admittedly, that’s one of our predictions).

‘Do something about the out-of-control property market!” has been the cry for years. “But not that,” is the response from some quarters.

If you believe the propaganda that everything that Labor does is wrong, therefore the tax changes cannot possibly be right, you will be waiting for the sky to fall in.

Before it does, enjoy the whole range of opinions, facts and fancy flats in this week’s news from Leftfield Communications.

Free Reads

Domain

Not quite an apartment, not quite a townhouse: The villa unit is the property market’s humble underdog
Not too small, not too expensive and perfect for first-time buyers – villa units are emerging as a popular and affordable option in Melbourne’s housing market. Villa units are typically single-level brick properties with two bedrooms, built during the second half of the 20th century in some of the city’s most attractive suburbs.

‘One-bedder Boomers’: The tiny apartments fetching jaw-dropping prices in Brisbane
Five years ago, “you could barely give them away”, but now Brisbane’s one-bedroom unit market has become the city’s hottest real estate commodity – typified by a downsizing boomer who recently splashed a record-breaking $1.54 million on an 81-square-metre one-bedder.

‘It could go for $50’: Gold Coast apartment with $49k annual strata fees goes under the hammer with no reserve
A renovated one-bedroom apartment just metres from Queensland’s most iconic beach could sell for less than a Friday-night bar tab after many buyers were scared off by eye-wateringly high body corporate fees.

The penthouse is still the pinnacle of luxury urban living
Sydney’s urban areas are on the up. With developers looking skywards, the new coveted lots are no longer sprawling plots of land with wide frontages; they’re at the top of thoughtfully designed landmarks looking out on the city beyond.

Off-the-plan buyers are now prioritising wellness, security and convenience in luxury apartments
Off-the-plan buyers are shopping for luxury, but it’s not what it used to be. The definition of luxury has come to mean more than just location, views and quality design.

Commercial Real Estate

Chinese investment moves from residential to industrial assets
Chinese buyers are turning away from Australian residential property and instead are increasingly purchasing industrial assets, experts say.

ABC Online

Squatters take over empty spaces in Sydney social housing complex
Social housing tenants in an inner Sydney complex have repeatedly complained about illegal squatters taking over units and causing damage. The complex is run by St George Community Housing, which received almost $44 million from the NSW government last financial year.

Housing minister says Waterloo community ‘not functional’ as demolition looms for public housing estate
The NSW Housing Minister says public housing areas like Waterloo in inner Sydney are “not functional communities”. Waterloo’s public housing estate is being redeveloped from 750 public homes to 3,300 private, social and affordable homes.

Angus Taylor’s migration cap may not cut migration at all
The last Australian immigration minister to argue for a specific target for overall overseas migration fixed to a percentage of the total population was Labor’s Arthur Calwell in 1945.

Auction clearance rates drop to 50 per cent following changes to negative gearing and capital gains tax
Negative sentiment around the property sector has started to make its way into the marketplace since the federal budget, but real estate experts say it may prove to be good news for first-home buyers.

Prime Minister Anthony Albanese defends tax changes at Labor conference
The prime minister has used a speech to Labor loyalists to defend his controversial budget. Anthony Albanese has been under pressure because of the changes to negative gearing and the capital gains tax (CGT) discount.

Realestate.com.au

‘Mum and Dad investor’ ex-prime minister John Howard caught up in capital gains tax real estate controversy
John Howard, creator of the current capital gains tax (CGT) regime, and wife Janette have recently become bank of mum and dad property investors – and thereby caught up in the tax controversy.

Warehouse apartments mark final piece in Bottleworks development
The conversion of a historic glassworks factory into boutique apartments marks the end of a long journey to transform Geelong’s former Big Shed site into a residential development.

Blink and you’ll miss them: Inside the six luxury inner-city homes up for grabs
An ultra-limited collection of luxury apartments has gone to market in the heart of Brisbane, with one unit already sold. Builders began construction on Élysées New Farm in April, developed by BTV Group and listed for sale in May.

Rooftop tennis court and Tesla robot room planned for new Brisbane tower
Forget rooftop pools — a developer is planning what is believed to be one of Australia’s only residential towers with a rooftop tennis court, alongside golf simulators and a Tesla robot room.

Waterloo South development underway in revitalisation project
One of the Minns Government’s key developments to help ease Sydney’s housing crisis has moved closer to fruition with work crews readying the site for demolition. According to the NSW government, the project, which was first announced in 2015, will provide 21,000 new affordable and private homes, in a huge boost to potential homebuyers.

NSW auction activity slumps to new lows as investor ‘panic’ sets in
An eerie silence has fallen across normally crowded Sydney auctions as home buyers and investors pull back from sales fearing Budget tax reforms will push down home prices.

Negative gearing changes to cost investors $65k a year and create rental crisis
New negative gearing changes are supposed to make investors pay – and they will: an average $20,000 a year out of pocket for a unit and $65,000 a year for a freestanding house.

NSW Premier Chris Minns tax claims slammed as ‘hypocrisy on steroids’
NSW Premier Chris Minns is copping a mauling from the housing sector after he turbocharged Australia’s furious tax debate when taking aim at Anthony Albanese’s controversial budget measures.

Celebrity chef Shannon Bennett lists lavish $6.1m Melbourne sky home
A Melbourne CBD apartment owned by celebrity chef Shannon Bennett has hit the market with a jaw-dropping $5.7m-$6.1m asking price. Bennett rose to fame as one of Melbourne’s top chefs running Vue De Monde at the top of the Rialto Towers, and appearing in reality TV shows such as MasterChef.

Qld’s property dream dead as construction crisis sparks apartment collapse
Queensland’s long-term standing as the nation’s affordable property haven is officially dead, with new data revealing Brisbane is now harder for locals to buy into than Sydney.

Urban Developer – Partly Free

Sunland Rises Again, Files Glitter Strip Skyscraper Plans
The Gold Coast’s Abedian development dynasty has quietly set about rejuvenating the Sunland brand that for four decades took Australia’s skyline and design ambitions to new heights.

Home from 1890’s to Make Way for Kurraba Point Units Scheme
Apartment renewal on Sydney’s Lower North Shore has reached another old Kurraba Point holding, with plans filed to demolish a 132-year-old house beside the suburb’s ferry wharf. Rahnch Constructions lodged the $8-million proposal for 115 Kurraba Road, where the house—known first as Knollys and later Sorrento—would be replaced by four full-floor apartments.

Office-to-Homes Plan Revealed for Hobart Police Headquarters
The Tasmanian developer who plans to invest $128 million across the Apple Isle by 2028 has revealed its latest scheme. Stewart Group Hobart has filed plans for the Tasmania Police headquarters in the capital, proposing its conversion into an apartment tower.

Shayher’s ‘Shimmering’ Towers, Graya’s ‘Lush’ Pavilion Greenlit
Brisbane’s skyline is poised for a bold 213m-high addition. Shayher Group’s soaring twin-tower vision for 309 North Quay has been given the green light for the city’s evolving western gateway, delivering a massive injection of residential supply—via a mix of 1122 apartments and branded residences.

Ku-ring-gai’s $136m Apartment Plan Keeps Old Rules in Play
A $136-million apartment proposal ins a Sydney Upper North Shore heritage conservation area has reached exhibition, keeping older rail-station housing rules alive in Ku-ring-gai’s development pipeline.

Reforms Ease Way for Hawthorn Hotel-for-Homes Upscale Bid
State-mandated height uplifts have paved the way for a 16-storey apartment proposal that would replace a hotel scheme in an inner Melbourne suburb. Fresh plans for 846-858 Glenferrie Road at Hawthorn propose a $65-million project of 78 apartments.

Four-Tower Play Pitched for Caloundra ‘Gateway’ Site
Four towers would rise from a longstanding Sunshine Coast motel site under plans filed for a landmark mixed-use precinct at the western gateway to Caloundra’s Bulcock Street. Construction identities John Gowdie and Simon Vinnicombe are behind the proposal which would deliver 170 apartments.

Up Property Plots 121-Home Mixed-Use Scheme in Geelong
Up Property has lodged an application for a mixed-use project in Geelong’s Belmont. The plan proposes 121 homes across two apartment towers and a cluster of townhouses, with retail, medical and gym at street level.

Waterloo South, Moore Park Launch New Era for South Sydney
A major reshaping of south Sydney is underway, with concept plans for a Stockland-led 3300-home precinct at Waterloo South on exhibition.

Olympic Park Mega-Site on Block in Sydney’s Inner West
A 17ha mixed-use development precinct next to Sydney Olympic Park is coming to market after the lender took control of the asset, amid intensifying demand for large-scale residential opportunities across the city.

Apartments.com.au

First look: SP Setia targets St Leonards skyline with 40-storey TOD tower
Malaysian developer SP Setia is the latest to jump into St Leonards booming Transport Oriented Development precinct. The developer, which has previously delivered Sapphire by the Gardens apartment development in Melbourne, identified the Atchison Street site in 2023. It filed a Scoping Report around 12 months ago, and now has revealed the designs for the new 40-storey mixed-use tower.

Urban Property Group unveils Newcastle’s latest tower at Wickham interchange
Urban Property Group has revealed plans for a new mixed-use tower at 10 Dangar Street, Wickham, advancing a proposal that would reshape the southern gateway to Newcastle’s city centre with one of the city’s tallest residential buildings.

SIERA kicks off construction at Northcliffe tower Exhale
The arrival of the first piling rig officially marks the commencement of construction at SIERA’s new beachside apartment development, Exhale, in Northcliffe.

Eastern Suburbs buyers snap up ESTE Little Bay apartments
Local Little Bay residents, along with buyers from premium postcodes across Sydney’s affluent Eastern Suburbs, have dominated purchases in developer-builder Urban Property Group’s first Eastern Suburbs apartment development, ESTE Little Bay.

Sunland Group returns to Broadbeach new apartment market with new Old Burleigh Road tower plans
Sunland Group has officially lodged plans for its first Gold Coast apartment project since the departure of the Abedian family from the company three years ago, unveiling a new high-rise proposal for a prominent Broadbeach corner site on Old Burleigh Road.

Bays West Delivery Authority established to “turbocharge” Sydney’s newest suburb
The Minns Labor Government has established the new Bays West Delivery Authority to lead the development of the Bays West Precinct and Blackwattle Bay Precinct. The Authority is charged with creating Sydney’s newest precinct, a thriving, connected, sustainable hub with White Bay Power Station as its cultural heart.

400 new homes planned for Adelaide’s former West End Brewery site
Around 400 additional homes could be built at Southwark Grounds on Port Road, lifting total site capacity from 1300 to around 1700 dwellings. A recently approved code amendment would allow apartment towers of up to 14 storeys in some areas of Renewal SA’s redevelopment of the former West End Brewery.

Cavcorp unveils wellness-focused Teneriffe House and Teneriffe Lane apartment buildings
Brisbane developer Cavcorp has lodged plans for a new mixed-use residential development at 55 Wyandra Street, Teneriffe, anchored by an 85-metre public laneway designed to reconnect the suburb’s riverfront with the Gasworks precinct.

Focus Group Investments taps Victoria’s Great Design Fast Track for Fitzroy apartments
Focus Group Investments has lodged plans for a new apartment development at 64–70 Hanover Street in Fitzroy, seeking to utilise the Victorian Government’s recently introduced Great Design Fast Track pathway to accelerate approvals for the project.

Winx billionaire’s beachfront Surfers Paradise apartment development greenlit
Surfers Paradise is officially set for its first new residential development with a 45-storey skybridge connecting the two towers. John Camilleri’s Celestino Developments has been given the green light by the Gold Coast City Council to develop its major beachfront precinct across its huge 4,000 sqm oceanfront site at 63–79 Garfield Terrace, just five months after its submission in late 2025.

Shayher Group secures approval for dual-tower, 1,100-apartment North Quay development in Brisbane CBD
Shayher Group has secured approval for its major mixed-use development at 309 North Quay, paving the way for more than 1,100 apartments across two towers on the western edge of the Brisbane CBD.

Pay-walled

The Australian Financial Review

New duplex inquiries jump 72pc after federal budget’s negative gearing carve out
Federal budget changes on property investment have driven a surge of inquiries for duplex homes from investor and owner-occupier buyers keen to tap the benefits of negative gearing and the 50 per cent capital gains tax discount that new home builds preserve.

Treasury exaggerated ‘subsidy’ to property investors
Treasury’s analysis of negative gearing and the capital gains tax discount may have overstated benefits for real estate investors because it failed to account for the payment of state property taxes, adding to a growing backlash against Labor’s federal budget.

Do you want a moveable apartment? It’s yours for $1.5m
GemLife, which has increased its share price 7 per cent in just 10 months as a listed company, plans to take its established land lease business into suburban areas after patenting a multistorey modular-build process that allows it to develop communities for downsizing Baby Boomers on smaller plots of land.

Banning Airbnbs ‘won’t help housing crisis’
Property managers are outraged by the City of Sydney’s call to ban short-term rentals in parts of the city and slash the number of days a home can be listed on platforms such as Airbnb each year by two-thirds, saying regulatory changes won’t have a meaningful effect on the housing crisis.

This mortgage broker spent $17.5k to send the government a message
Politicians flying into Canberra on Monday for the sitting week or budget estimates will be welcomed by 18 conspicuous billboards with the same message: “Stop the ambition tax”.

Teary Albanese defends ‘pro-aspiration’ tax overhaul
Prime Minister Anthony Albanese framed his controversial overhaul of capital gains tax, negative gearing and trusts as pro-aspiration in his most impassioned defence of the changes, as he seeks to contain the growing political blowback to the federal budget.

Are migrants to blame for the housing crisis? Answered, in eight charts
Angus Taylor and about 60 per cent of Australians believe it, but do immigrants really increase house prices? Luke Kinsella

The Australian

Home auctions delayed as government’s CGT, negative gearing crackdown hits market
Home sellers are pushing back their auctions as they try to deal with the disruption caused by the Albanese government’s assault on property taxes. The residential property market has been rattled by the crackdown on negative gearing and capital gains tax, with final clearance rates falling again in Melbourne, according to final figures from SQM Research.

Budget tax changes set to stall house prices, with Sydney and Melbourne facing outright falls
The property market hit following Jim Chalmers’ controversial budget is becoming clearer – and it is not very pretty. Westpac, Goldman Sachs, Morgan Stanley and HSBC have all cut their house price forecasts in the wake of the Albanese government’s decision to abolish negative gearing for established dwellings and replace the 50 per cent capital gains tax discount with a tax on inflation-adjusted gains at a minimum rate of 30 per cent – the most significant changes to housing tax policy since 1999.

Minister claims housing win as experts warn young buyers at risk of ‘painful’ twist
Labor has come under fire for claiming a win on its 5 per cent first-homebuyers’ shared equity scheme as economists warn young Australians could soon owe more than their property’s value in a policy “perfect storm”.

ATO’s move to Festival Plaza to cost taxpayers more than $73m
The ATO’s move into a new state-of-the-art skyscraper at Festival Plaza will cost taxpayers more than $70m in fit-out costs, but the government agency says it’s worth the investment given the rental savings that will flow from a dramatic cut to its office footprint.

The Sydney Morning Herald

This Glebe townhouse sold for $2.19 million. Its quiet auction revealed something about the property market
In a boom market, a three-bedroom fixer-upper in the inner Sydney suburb of Glebe would whip up interest among investors and first home-buyers. But on Saturday, this property on Bellevue Street, for sale for the first time in decades, attracted only two serious bidders.

The Age

Fraud and corruption: 56 active allegations on Big Build projects receiving federal funds
Eleven of the biggest infrastructure projects in Victoria – including the multibillion-dollar Suburban Rail Loop and North East Link – are now the subject of 56 separate allegations of fraud, corruption, theft and criminal behaviour after a rise in reports of suspect conduct.

Single mother outbids two rivals for $745,000 inner-south townhouse
A single mother won the keys to a St Kilda East townhouse, outbidding two rivals as another registered bidder, an investor, failed to show up at Saturday’s auction.

Brisbane Times

Huge dual-tower ‘private retreat’ set for Brisbane’s inner north
New renders of an inner-city complex with 150 apartments across two buildings have been revealed. The dual structures at 10 Lyons Terrace in Windsor will cover a huge footprint fronting onto Cartwright Street and Lutwyche Road.

The Daily Telegraph

Richard Holden declares Albanese has created a ‘productivity tax’ for Australians
A leading economist has declared controversial budget tax changes are a ‘profound oversight’ by the Albanese government, creating Australia’s first ever ‘productivity tax’.

The Adelaide Advertiser

Why overpricing your home could cost you tens of thousands of dollars
Real estate agents reveal the single worst mistake you can make when selling your home – an error that can cost you big time.

The Newcastle Herald

Newcastle shopping centre slated for 1400 new homes
A Newcastle West commercial hub is slated for a dramatic transformation under a $1 billion plan that would deliver up to 1400 new apartments and reshape the western skyline of the CBD.

Negative gearing changes: borrowing capacity to drop under budget overhaul
A Sydney mortgage broker warns that budget reforms will directly impact how much investors can borrow, and the numbers are more confronting than most realise.

The Illawarra Mercury

‘We’re the second largest landholder’: Developer talks Wollongong apartments, cinemas and investors
A drive around Wollongong’s CBD earlier this week showcased a range of Level 33’s apartment projects in various stages of planning and construction. They included Easterly [the former Chickos site], Atchison & Kenny, Summit [the former Red Rooster site], and the soon-to-be launched Gallery apartment complex.

The Herald Sun

Melbourne’s housing boom stalls as data reveals thousands of approved dwellings still not built
Iconic buildings in prominent locations on Melbourne streets have been left vacant and derelict as plans to redevelop them stall. Here’s why only a fraction of builds are completed.

The West Australian

NAB tightens mortgage borrowing after property tax break negative gearing removed
National Australia Bank has tightened its home lending rules after the Federal Government removed a perk that allowed property investors to claim mortgage interest payments as a tax deduction.