Carrington Clarke

so tiny is the argument, and that we will see a price increase in dwellings of 2% less than it would otherwise be.

So if it was supposed to be 6%, I think is the example they use in the budgetary papers, then it will be 4% instead.

Now that sounds very small.

This is in line with what a lot of the think tanks have said.

The problem is if we have a housing market that's already under pressure and perhaps we start to already see it go negative, does that become a bigger issue for them if it's falling by 6% and now it's going to be falling by 8%?

Does that become more politically tricky to them?

I'm not sure.

But they know where the attacks are going to be coming from.

They know, again, how central...

housing is in the psyche of Australians.

And also, it's very important for how wealthy people feel, right?

Absolutely.

So this is where a lot of people store their wealth, and that's maybe why they go out and buy a second car.

That's why we've got all these problems.

Yeah, exactly.

And so they go out and spend money because they keep hearing that their house has gone up in value or their investment property.

Does that start to shift?

If we are in a situation, we know that the property market has already shifted noticeably in the last few months because we've had interest rate hikes, we've got this global uncertainty.

Does that become harder for them?

This is a brave budget and it'll be interesting to see where they start to receive arrows from.