Contentious changes to taxes on property investments won't be the main driver of expected falls in prices, the housing minister says.
As auction clearance rates hit lows not seen since the COVID-19 pandemic, Clare O'Neil said it was unclear how much the planned changes to negative gearing and capital gains taxes would drive down values.
She would not guarantee a key measure of housing construction would improve under Labor's policies.
Levelling the playing field for first home buyers has been a prominent selling point of the government's tax reform package, but ministers are still putting out fires weeks after announcing the overhaul in the budget.
Asked about suggestions house prices could fall as much as 10 per cent under the plan, which pares back concessions for property investors, Ms O'Neil said the government's policies were not the main driver of the property market.
