Sep 9, 2026 – 6.26pmThe Albanese government’s changes to capital gains tax and negative gearing are a key driver of steep declines in mortgage applications among first home buyers, though there are signs a recovery may be beginning as prospective homeowners prepare to buy the dip.Data from banks, mortgage brokers and real estate companies collated by The Australian Financial Review show first home buyer demand for new mortgages has dropped since the federal budget was handed down in May, despite the government’s assurances that the changes to capital gains tax and negative gearing would improve affordability.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
First-home buyers retreat as tax changes bite
First-home buyer mortgage demand has fallen since the federal budget, though data suggests buyers are preparing to enter the market as it bottoms out.
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