According to The Australian Financial Review, Treasurer Scott Morrison has fuelled speculation the government may allow first homeowners to access their superannuation to break into the market after he said the cost of entering the housing market was causing couples to put off having children.
The Treasurer has also shrugged off fears that investors are stoking a dangerous property bubble, saying a lack of supply means galloping prices for houses in Sydney and Melbourne are "real" even if they're high.
"The problem is being able to save quickly enough to get a deposit which is big enough to actually get yourself into the market," , Mr Morrison said.
While the government will not confirm or deny most speculation ahead of the release of its housing package in the May 9 budget, the Treasurer did again knock on the head any changes to negative gearing, saying the argument any curbs would lower prices was "ridiculous". But he again made no mention of the capital gains tax concession for investors which the government is also looking at curbing but has made no final decision.
Mr Morrison also encouraged all states to follow the lead of South Australia and Victoria in imposing a "tax on latent stock", or so-called land banking in which an investment property sits vacant.
"If there's an investor holding property they're not leasing they would face a higher tax burden. We need all the stock that's out there to be on the market.
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