Higher-density housing is needed, and stamp duty and negative gearing have to go, according to KPMG Australia partner and chief economist Brendan Rynne.

In order to improve housing affordability, the government must institute reforms to allow for higher-density housing and remove market distortions like stamp duty and negative gearing, according to KPMG.

Speaking at The Australian-Melbourne Institute Economic and Social Outlook Conference, KPMG Australia partner and chief economist Brendan Rynne said the government needed to institute a combination of regulatory and tax reforms to address the affordability crisis. Rynne warned that the reforms should be instituted in unison to avoid an “investment freeze” that could only worsen the situation.

Read the full article at mpamag.com