2319 GMT - One person making positive noises about the changes to housing incentives by Australia's government? Charter Hall CEO David Harrison. Australia is ending negative gearing for residential property other than new builds, while also overhauling capital gains tax. "We expect these changes could drive a rotation of capital demand toward higher yielding commercial assets from low yielding residential investments," Harrison says. This is due to lower income returns in residential property and reduced tax benefits from negative gearing, he says. "Across the capital spectrum, we anticipate heightened demand for higher yielding retail, industrial, social infrastructure and office assets, particularly when secured on long lease contracts with fixed and inflation linked annual rental growth." Charter Hall today upgraded its operating earnings guidance by 3% to A$1.03/security. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

May 24, 2026 19:19 ET (23:19 GMT)

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