Budget tax changes will disadvantage the never-owners.
20 year old - buy a house? You're joking!
30 yo buy a house - possible if in relationship, is well paid, and has saved a deposit.
40 yo - the house bought 10 years ago has doubled in value. This has been Australia's history since 1900 - check actuarial firm RESIDEX study. Values will continue to double unless our population shrinks or building wages and materials become cheaper. Mr/Ms 40 now have equity in his 10 year house to afford an investment property - but its more difficult to achieve and less rewarding due to 2026 budget.
50 yo - same
60 yo - retirement pending. Asset pool - now one house fully paid-off, some superannuation savings - insufficient for comfortable living, and government pension top-up.
At some time in retirement it will occur to the couple that they would have been better off had the 2026 budget just not happened. They will be poorer. Money isn't everything, but it helps pay for car replacement in retirement, holidays...
Australia has now become a very highly taxed property market compared with equivalent economies.