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One of Australia’s largest real estate networks is calling on the federal government to introduce tax incentives aimed at helping first and “last home buyers”.
Raine & Horne executive chairman, Angus Raine, has urged consideration of tax relief for downsizers, designed to free up housing stock for first-time buyers.
The call comes after the housing market posted its seventh consecutive month of growth in August, with nationwide prices rising 0.7 percent.
Analysts expect demand to pick up further as interest rates ease and the First Home Guarantee accelerates from 1 October.
Despite rising demand, Raine & Horne data also shows a cooling appetite among vendors, with appraisals falling 15 per cent and listings down 9 per cent year-on-year.
The network is advocating for a capital gains tax holiday for older investors over 24 months to encourage them to sell, paired with “seniors home buyer” stamp duty relief. This would offer targeted support for empty nesters over 70 looking to downsize.
“Empty nesters need compelling reasons to move – whether that’s freeing up equity to enjoy retirement, relocating closer to family, or downsizing to a low-maintenance home,” Raine said.
With the right incentives, these households can make their next move while helping the next generation of Australians get their foot on the ladder.
The policies are designed to give confidence back into the market.
“These measures would deliver a win-win, giving older Australians the financial confidence to sell while unlocking much-needed housing supply for first-time buyers and upgraders,” Raine concluded.
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