House Prices and Andrew Leigh

Mr Turnbull: More voters than not gave the policy the thumbs-up, according to Nine News Australia. That didn't top the prime minister having another crack at the idea that he argues will hit house prices."We know that there would be nothing more damaging to confidence and growth than smashing housing prices," Mr Turnbull told parliament on Monday. But Newspoll, published on Monday, suggests voters back limiting negative gearing to newly-constructed properties. Shadow assistant treasurer Andrew Leigh dismissed that argument while avoiding questions about whether Labor had done any specific modelling."We will continue to see house price growth, but you won't see that gap between house price growth and wage growth," he said. The Property Council - which has launched an advertising campaign promoting the benefits of negative gearing to the Australian economy - also opposed reports the government may cap the amount negatively-geared investors can claim against their tax obligations."There is a risk with both options," chief executive Ken Morrison said. Opposition Leader Bill Shorten said Mr Turnbull had no modelling to back up his claim that house prices would fall under Labor negative gearing change."Mr Turnbull thinks it for very wealthy investors to acquire taxpayer support to get their fifth, sixth and seventh houses," he told reporters in Canberra. (news.financializer.com). As reported in the news.