Key takeaways

• Federal Budget 2026–27 changes effectively end key tax supports for leveraged property investing from 1 July 2027.
• Mark Gardner describes the previous combination of negative gearing, the 50% CGT discount and bank dividends as “the laziest Investment strategy ever invented”.
• ASX banks may face slower long-term Credit growth as investor Demand for established residential property shifts.
• Concentration in banks and miners means passive ASX 200 investors are still indirectly exposed to housing-linked Earnings.
• Long-term ASX investors are reassessing Diversification, Dividend reliability and structural exposures.

For nearly three decades, a particular investment…