Carrington Clarke

I do.

One of the things we don't know at the moment is it's almost now a given, it seems that there's going to be some reforms on negative gearing and capital gains tax.

Now, it's possible, of course, the government's going to completely surprise us and do something different, but that seems obvious.

There seems to be a question, though, about whether or not

these rules are going to be so-called grandfathered in, which means that people who have already purchased homes, whether or not they are going to keep the tax arrangements that they've already had, and there is even speculation that perhaps the rules won't change for another full year, that they will come in in 2027 instead of this financial year.

What do you make of potentially delaying it and also

this grandfathering question, particularly when it comes to equity and fairness, is that some people are suggesting already that that's effectively pulling up the ladder behind the older generations and means that younger people won't have the same advantages when they're trying to build wealth when it comes to investment properties, for example.

And the idea of delaying it for a year.

I mean, we've got a property market that's interesting at the moment.

We've seen a noticeable change since that initial interest rate hike, which actually came ahead of the conflict.

Remember, this is just about an interest rate hike trying to deal with the existing inflationary pressures in the economy.

And we did see a noticeable change in auction clearance rates after that point.

We've had two interest rate hikes since then.

We obviously have major concern about where the global economy is going, potentially more interest rate hikes to come.

We've seen a noticeable shift in the kind of power dynamic between buyers and sellers when it comes to property.

Do you think the government is conscious of the fact that the property market is more fragile than they might have otherwise been heading into this budget?

And that might be part of the reason they might be delaying these changes further.

so that we don't see a too noticeable shift when it comes to the property market.

One of the other things I think is unclear is whether or not the capital gains tax discount changes and the negative gearing changes will impact other types of investments.

Obviously, the major focus has been when it comes to the housing market.