Well Pauly, real estate salesmen don't make policy decisions based on repeated lies that are binding on all Australians, last time I checked. Here's just another example of the instant effect of the changes with restricted lending for investment and another business (property management firm Dashdot) with more that 40 employees going bust partly due to the Budget changes. From co-founder G>McGrath:
“Forums filled with confused investors. The investor segment of the Australian property market entered a state of paralysis within 24 hours.
“This was the first direct, policy-driven blow to investor confidence in the entire cycle.”
“Some pre-approvals issued only weeks earlier became unreliable overnight.”

More from the liquidated Dashdot's co-founder G McGrath on immediate Budget effects:
He said major banks began rolling back negative gearing options for investors, tearing into their potential borrowing capacities.

“For a typical investor (a single applicant on $100,000 income with no existing debt), borrowing capacity fell by approximately 20 per cent overnight, from $750,000 to $600,000, with no change to income, expenses, or interest rates,” Mr McGrath said.

“For more highly-leveraged scenarios, the reduction was 25 per cent to 33 per cent...

Hi Mikko2

Dashbot run by someone called "Goose" in a partnership with someone called "Gabbi". Went into liquidation yesterday! Interesting.

A nameless "investor" probably Goose and Gabbi, possibly wanting to purchase their 10th investment property, and for some reason are offered a $600K mortgage by the bank. A young couple wishing to buy their first home to raise a family, and move out of the rented digs owned by the "investors" where they are paying exorbitant rent, are now in a position to borrow $600k from the same bank to make a bid for a home of their own, all on a level playing field. thanks to Jimbo and Albo, but no thanks to Goose and Gabbi !

My heart bleeds for Goose and Gabbi, tut, tut, but I wont be losing any sleep over their failure. P/S If they went bankrupt yesterday, there's much more to the story than the budget of 2 weeks ago! A couple of incompetents who failed I would say.

Just a final post from Google AI which sums it up but hang on to your delusions, the months ahead will show who is right and it won't be the Liar in the Lodge or his woke acolytes:
AI Overview Australian renters are reporting immediate, significant weekly rent hikes—ranging from $25 to $100—following the recent federal budget's announcement of tax reforms, which include phasing out negative gearing for existing properties. While the Treasury initially estimated rent increases of just $2 a week, independent modelling warns of much steeper hikes ahead...

Hi Mikko2,

Trying to link today's rent increases to the budget is political, there is no impact on the housing market due to the tax changes announced in the budget, for the simple reason that no legislation has passed the parliament. Despite the scare campaign of misinformation the truth is EXISTING RENTAL PROPERTIES are exempt, and NEW RENTAL PROPERTIES purchased are also exempt.

This weekend auction reports some key points;

"The share of owner-occupiers (and specifically first-home buyers) has seen a noticeable increase at auctions across Australia. This shift is largely because property investors have pulled back due to rising interest rates and major changes to negative gearing and capital gains tax. In previously highly competitive, affordable markets (like Greater Brisbane), owner-occupiers and first-home buyers are now outbidding investors."

Gee green shoots, young first home buyers are getting into the market on a level playing field. Downward pressure on prices as investors leave the existing market and want to invest in new housing. Folks buying a home, to raise a family in, the Australian dream, now have a fighting chance to realise that dream, and not being out bid by an investor seeking his 30th existing property to rent.

I have not mentioned the supply side, and what is being done there for the provision of new social and affordable homes across Australia. Nor have I mentioned government assisted finance for first home buyers.

We can't have any of that, can we?