melbourne - auction average price falling, page-52

"The ability to apply negative gearing to existing property is inefficient and a poor use of tax payers money. "

It is not tax payers money - it is each investors money until their tax is assessed after which it is the taxman's money.

"It should only be applied to new builds thus encouraging expansion of the housing supply."

It is not about the supply of homes - it is about the supply of rental place whether the home is new or old is irrelevant.