Most economists believe the chronic undersupply of homes will eventually push prices higher once interest rates ease and the tax changes are priced in

One top economist argued that lower house prices were a good thing, and that Labor would be wise to resist calls to protect asset prices and reverse course.

If home affordability was the central aim of Labor’s budget changes, then property prices have to fall. But the government can’t quite get the words out.

Most economists believe the chronic undersupply of homes will eventually push prices higher once interest rates ease and the tax changes are priced in