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Only because older properties tend to be crappier, more supply and therefore cheaper. If negative gearing changes to allow it only on new properties the supply could change. No need to shout. If NGing was limited to new properties it could create an oversupply of new properties compared...

Actually it was removed for more like two years before it was reintroduced. But with grandfathering I agree, it's too short a period to say it's effect on rents or house prices. Especially with CGT introduction and stock market crash.