In case you missed it, Aussie Most Read Publications 12 May to 18 May 2026

Research evidence excerpt

In case you missed it, Aussie Most Read Publications 12 May to 18 May 2026

he rate of income growth. While Treasury does not expect an immediate fall in house prices, it

does model a slower path of house price growth in future. We presume that housing credit growth will be lower than otherwise

expected (as would housing turnover), with mortgage-heavy major banks (CBA, WBC) likely to be more impacted at face value.

This is likely to compound challenges from RBA rate hikes.

Australian REITs (Richard Jones, CFA)

2026-27 Federal Budget implications for A-REITs

The Australian Government released the Federal Budget overnight, establishing several changes to the tax regime surrounding

residential property investment. The most applicable are the changes announced around negative gearing, CGT reforms and

the extension of Foreign Investment Bans. Our view is that this should be beneficial for residential developers in the near term

with demand pushed towards new build. However, the removal of individual tax advantages for investment in residential

housing will likely diminish house price growth, which we view as a negative for overall housing in the medium to long term.

ASK internalisation of ABG management (Richard Jones, CFA)

A necessary step at a favourable price for ASK

JPM key takeaways: ABG has entered binding agreements to internalise ASK's management for ~$24m ($19m headline + ~

$5m net assets), removing ~$19.6m in annualised fee revenue partially offset by ~$8.4m in cost savings, implying net ~$11.2m

recurring earnings headwind for ABG from FY27. Implementation is expected by 30 June 2026. This consideration implies just

~2.1x net loss earnings – a very low price for a platform managing ~$3.5bn in storage assets. This transaction will unwind the