Before the federal budget, the housing market was already starting to choke on its own excesses. Now some economists are tipping an extended period where home prices grow no faster than general inflation.

Instead of relying on tax-enhanced speculation, investors must now look at established properties based on actual profitability – leaving space for first home buyers

Labor’s budget changes are not to blame for the recent dip in property prices. But the changes will help move housing away from investors – and that should be celebrated