I think we now have our own local script accounting for the upcoming Australian property crash: “It was the 2026 federal budget that caused it!”
[Never mind what’s also happening in the USA and the UK.]
It wasn’t the budget, of course. The collapse in real estate prices had been set in concrete many years ago by tax regimes favouring speculative interests above those of working people.
The one thing that collapsing real estate markets will prove is that it’s beyond time for a tax shift from earned incomes onto land and natural resource rents.
