Sydney house prices - an increase of 18.9% in one year!

With only a month to go to the federal budget, the news that Sydney’s median dwelling prices rose by 18.9% in the 12 months to March is sobering. It is surely enough to jolt the Turnbull government into finally adopting bold measures to curb speculative demand in the housing market. Calls to reform negative gearing and/or the overly generous 50% CGT discount are coming thick and fast. David Murray is the latest heavyweight to add to these calls. The Coalition ignores them at its political peril.