Sep 8, 2026 – 5.00amLabor’s overhaul of residential property tax concessions is prompting a historic shift in investing that could send hundreds of billions of dollars toward commercial property, but a brutal price correction is only getting started and will weigh heavily on spending and the economy.That’s the view of some of the property industry’s most senior executives, who described residential real estate – where values could fall as much as 15 per cent – as the single most important asset class in the country.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles