Australia’s new housing pipeline will lose an expected 2500 homes from self-managed super funds that pulled out of signed contracts they could have continued despite the federal Labor government’s budget changes, the Housing Industry Association said on Monday.
The HIA, which made the prediction based on feedback from its home-builder members, said the effective ban on SMSFs borrowing to invest in residential property that came into effect on Monday would further hold back national cabinet’s already-challenged 1.2 million home target.
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