Minister denies housing price slump is being driven by property tax changes (opens original article in a new tab)

Housing Minister Clare O'Neil says the property market is correcting but denies tax changes are the main cause of the price slump, as auction rates and prices decline.

• Housing Minister Clare O'Neil acknowledges a market correction but denies tax changes are the main cause of the price slump.
• Auction clearance rates fell below 50% nationally, with Sydney and Melbourne seeing sharpest price declines.
• Government's tax reforms aim to aid first-home buyers by limiting tax benefits for property investors.