Taking Negative Gearing away from established home will not affect new builds, nor (grandfathered) existing NG established properties.
Removing NG from established properties will only deter new investors who take advantage of NG to offset other income. So it doesn't stop investors investing in established homes, it just means they will have to reassess if it is viable for them without NG.
Removing NG will also turn more renters into home owners, as the established housing stock does not go down.
NG will be allowed on new builds, which adds to housing stock.
Rents will still need to compete with other rentals and rental demand.
