What is the expected impact on the property rental market?
Answer
The introduction of TOP’s UDA and other supply-side initiatives would create far more new housing options for firsthome buyers and more opportunities for renters.
TOP wants house prices to hold steady for a generation to let incomes catch up. Our proposed tax reform would reduce the incentive to buy houses for short-term capital gain. Owning rental property would of course still be a viable business option for rental return, but we don’t want tenants evicted if they are paying the rent and looking after the property. These changes would also likely increase the options on the market for people renting to choose from.
In short, the rental market would become a good place for good landlords and good tenants.