<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>About 75,000 </span><a href="https://www.9news.com.au/national" rel="" target="_blank" title="Australians "><span>Australians </span></a><span>are set to see $19,000 slashed from house prices - but not for years. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>As expected, last night's federal budget wound back the 50 per cent capital gains tax discount to its pre-1999 settings and grandfathered negative gearing.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Most of the changes will come into effect from July 2027. </span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/federal-budget-2026-winners-losers-workers-first-home-buyers-property-investors-ndis/55ede4e3-2ea7-4315-93f9-0f08ca98d2b3" rel="" target="_blank" title=""><strong><span>The winners and losers from the federal budget</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Treasury estimates the tax reform will help 75,000 people buy their first home over 10 years and save someone buying a home at the national median average price about $19,000 over "a couple of years".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This improvement in affordability and lower investor demand is expected to shift the ownership mix towards more owner-occupiers," the budget papers said. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>While the changes were touted as the most significant of the 21st century, it may take years for lower prices and easier access to the market to reach aspiring first-home buyers. </span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/federal-budget-2026-about-75000-aussies-to-see-19000-slashed-from-house-prices--but-not-for-years/d699ae2d-e746-4a9e-88f1-0cc0d5099118" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Grattan Institute's economic expert Matthew Bowes said the changes will lead to three per cent higher home ownership rates over a decade as investors are disincentivised to buy a property due to less generous tax breaks and profit when they sell down the line.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"What these tax reforms do is help ensure that first home buyers aren't being outbid by investors at auctions," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"Over time, they will mean somewhat fewer investors and somewhat more home owners, and help support home ownership."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Bowes said the impact of the twin tax reforms on housing affordability will be "relatively small" in the next few years.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"At least to begin with, based on previous estimates of the impact of these kinds of policies," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/federal-budget-2026-haunted-by-ghost-of-election-past-labor-pushes-forward/5c565eca-395e-4da8-a907-4f4feb9d04f9" rel="" target="_blank" title=""><strong><span>Can you break a promise? The government has just bet the house on it</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Treasury's numbers also suggest the changes will lead to 35,000 fewer homes built over a decade and a small impact of less than $2 a week for someone paying the median rent.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The government faced a slew of criticisms this morning for breaking an election promise to deliver the tax reforms, including some questions about whether it went far enough to support first-home buyers.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Treasurer Jim Chalmers was asked about whether the tax reforms went far enough if only 75,000 would be helped over 10 years during his post-budget speech today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>He said intergenerational inequity in the housing sector reached a level he was "not prepared to tolerate".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's worth it for 75,000 Australians who wouldn't otherwise get a hook in the housing market," he told journalists at the National Press Club.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"It's worth the political risk that we've taken in coming to a different view and changing our policy position in some contentious areas</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"I'd rather do the right thing by those 75,000 people and explain why a change in policy was necessary and own that than to leave this problem for someone else to fix down the track and in the meantime to let this problem get worse."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><strong><span>NEVER MISS A STORY:</span></strong></em><span> </span><strong><em><span>Get your breaking news and exclusive stories first by following us across all platforms.</span></em></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><ul><li><em><strong><span>Download the 9NEWS App here via</span></strong></em><span> </span><a href="https://apps.apple.com/au/app/9news/id1010533727" target="" title=""><em><strong><span>Apple</span></strong></em></a><span> </span><em><strong><span>and</span></strong></em><span> </span><a href="https://play.google.com/store/apps/details?id=nineNewsAlerts.nine.com&amp;hl=en_AU&amp;pli=1" target="" title=""><em><strong><span>Google Play</span></strong></em></a></li><li><em><strong><span>Make 9News your preferred source on Google by</span></strong></em><span> </span><a href="https://9.nine.com.au/8x987w" target="" title=""><em><strong><span>ticking this box here</span></strong></em></a></li><li><em><strong><span>Sign up to</span></strong></em><span> </span><a href="https://login.nine.com.au/edm?client_id=nineatnine" target="" title=""><em><strong><span>our breaking newsletter here</span></strong></em></a></li></ul></div></div>