Adelaide’s negative gearing hotspots revealed

Adelaide’s negative gearing hotspots have been revealed, with the data showing investors right across the state were reliant on the tax method as a wealth creation tool – but also issuing a warning that rents could increase as changes to the investment tactic impact the market. According to Australian Taxation Office figures for the 2023/24 financial year collated by Carlisle Homes, Northgate and the surrounding suburbs of Enfield, Northfield and Clearview recorded the greatest collective net rent loss of any area in South Australia, at almost $4.5m. According to the ATO, this postcode was home to 16,667 taxpayers, with 2163 or 13 per cent of those having a rental property. Golden Grove, with its nearby suburb of Greenwith, claimed second place, recording a total rental loss of more than $2.178. Parafield Gardens and Green Fields was the third most negatively geared postcode at a collective rental loss of almost $2.112m, while Oakden, Gilles Plains, Hillcrest, Greenacres, Hampstead Gardens and Manningham claimed fourth place with total rental losses of more than $2.079m. Roxby Downs and Olympic Dam rounded out the top five with total rental losses of more than $1.685m. Loan market ...