Why CGT Changes Won’t Solve Australia’s Housing Crisis

Capital gains tax reform and negative gearing have become central to Australia’s housing debate—but are these policies actually capable of improving affordability? In this episode, we unpack the real role of tax settings in the property market and question whether current reform discussions are addressing the right problem. The conversation explores how capital gains tax discounts work in practice, why they exist, and what changes could mean for investor behaviour. We also dive into the broader housing ecosystem—covering rental vacancy rates, population growth, and the heavy reliance on private investors to supply rental housing. Along the way, the episode challenges the assumption that reducing investor incentives will automatically improve affordability. A key theme is unintended consequences. What happens if investors exit the market? Where does that capital go? And how might changes to CGT or negative gearing impact rental supply, development activity, and long-term housing outcomes? The discussion also touches on the rise of build-to-rent, government incentives, and the shift toward institutional investment. This episode offers a grounded, data-informed perspective for investors trying to navigate policy uncertainty. Instead of reacting to headlines, listeners are encouraged to think critically about how incentives shape supply—and why meaningful housing reform requires more than just tax changes. Episode Highlights 01:20 — Meet Cameron Kusher & His Market Perspective 04:41 — Investors, Rentals & Why Supply Is So Tight 15:52 — Why New Build Incentives Matter More Than Ever 19:41 — Foreign Capital: Help or Housing Distortion? 27:11 — Tax Deductions: What Investors Actually Claim 29:00 — Should Investor Tax Benefits Be Capped? 30:31 — Portfolio Building: Smart Strategy or Risky Hype? 32:42 — Why Incentives Should Focus on New Supply 34:28 — Apartments: The Missing Piece in Supply Fix 36:18 — Developer Costs: What’s Really Holding Builds Back 39:07 — Government Housing: What Are the Real Options? 41:21 — Rate Fears & Falling Confidence in Property 45:45 — Where the Property Market Could Go Next 48:12 — Build Costs and the Supply Feedback Loop 49:26 — Final Thoughts & Key Takeaways for Investors About the Guest Cameron Kusher is a highly respected property market analyst with decades of experience interpreting housing data and market trends across Australia. His work focuses on understanding how policy decisions, economic conditions, and demographic shifts influence real-world housing outcomes. With a background in analysing property cycles and investor behaviour, Cameron brings a practical, evidence-based perspective to complex policy discussions. He is known for cutting through political narratives and focusing on what the data actually shows—particularly when it comes to housing supply, affordability, and the role of investors in the market. His insights help bridge the gap between policy theory and market reality, making him a trusted voice for investors seeking clarity in an often noisy and opinion-driven space. Connect with Cameron Cameron Kusher - Independent | property market strategist | Helping real estate businesses, developers & lenders make better decisions with data Kusher Consulting Kusher Consulting’s LinkedIn Resources Visit our website: If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au Looking for a Sydney Buyers Agent? Work with Veronica: Looking for a Mortgage Broker? alcove.com.au Work with Chris: chrisbates@alcove.com.au Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word, and join us for more insightful discussions in real estate. Your journey starts now!

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Why CGT Changes Won’t Solve Australia’s Housing Crisis is an episode from The Elephant In The Room Property Podcast | Inside Australian Real Estate by Chris Bates.

This episode is 50:40 long.

This episode was published on Apr 19, 2026.

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