Click to enlarge A recent survey by Roy Morgan Research found that approximately 7 per cent of Australian mortgage holders have little or zero equity in their homes in the twelve months to October 2016. Although house prices in Sydney and Melbourne have risen at unprecedented rates since 2009 , 7 % of Australian mortgage holders - equating to about 300,000 homes had little or no equity in their homes in the year to October 2016 . David Simeon , director of real estate agent , Wrench Mosman , says the Australian Tax Office should return the percentage of homes that can be sold off - plan to overseas buyers back to 50 % from 100 % to make housing cheaper for local buyers . And to ease up rental costs in Sydney , Simeon suggests the ATO leases out the city 's remaining permanently vacant apartments .
Although house prices in Sydney and Melbourne have risen at unprecedented rates since 2009 , 7 % of Australian mortgage holders - equating to about 300,000 homes had little or no equity in their homes in the year to October 2016 . David Simeon , director of real estate agent , Wrench Mosman , says the Australian Tax Office should return the percentage of homes that can be sold off - plan to overseas buyers back to 50 % from 100 % to make housing cheaper for local buyers . And to ease up rental costs in Sydney , Simeon suggests the ATO leases out the city 's remaining permanently vacant apartments .