Property investor Ben Nobelius has no plans to buy into the residential market again. After Labor’s changes to tax concessions, he can’t make it stack up financially. Add to that, he worries that more policy changes may yet be in the pipeline.
“You’ve got to put in hundreds of dollars a week just to top up the outgoing costs, finance and property management, and then you take all the risk as the investor and the landlord,” said the Melbourne-based investor who owns several properties and works as a land surveyor.
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