It would help, but addressing only one side of the supply and demand equation won’t solve the problem. Property investment is still very lucrative relative to p

It would help, but addressing only one side of the supply and demand equation won’t solve the problem. Property investment is still very lucrative relative to productive enterprises, so people will continue to funnel money into it instead of businesses until taxes capital gains or land taxes increase to a sufficient degree. Further, Australia is operating an EXTREMELY aggressive population expansion policy. This can and should be reduced significantly. The solution is some mix of your suggestion and mine. Unfortunately most Australians own or live in an owned property. They won’t vote for this. In a few decades they will be in the minority, and life-long renters will be in charge. When that happens we can expect some wild policy swings. Similar patterns are developing all over the Western world.