US-Iran ceasefire crumbles; Most want house prices to drop

A growing majority of Australians want house prices to fall, in some cases by more than 20 per cent, and contentious measures in the federal budget are winning more support among voters, a new poll has revealed.

Sixty-one per cent of people supported a decline in property prices, an exclusive Resolve Political Monitor Poll has found, with a majority of every age, political and income group agreeing that prices were too high.

Support for a drop increased by seven points on the 54 per cent recorded in June. Opposition eased to 9 per cent from 11 per cent, while the proportion who were undecided or neutral also slipped, from 35 per cent to 29 per cent.

The government has been accused of deliberately trying to undermine the property market through its changes to negative gearing and the capital gains tax concession in the May budget. Treasurer Jim Chalmers and Prime Minister Anthony Albanese have argued that the changes will slow the pace of house price growth rather than cut values.

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