‘Rents will soar’: Tim Wilson warns negative gearing changes could hammer tenants

Shadow Treasurer Tim Wilson warns changes to negative gearing could trigger soaring rents and worsen Australia’s housing crisis.

“You just need to go and look at what happened when Paul Keating did this back in the 1980’s, got rid of negative gearing, what happened? The price of rent went up,” Mr Wilson told Sky News host Sharri Markson.

“There’s already been modelling done by SQM Research, which has found that a $160 increase in rent in Sydney per week, $130 or thereabouts in Melbourne, is a consequence of this change.

“This isn’t going to do anything for housing supply.”