Everyone upset over government's new housing policy

The government's under fire from all corners over its housing policy changes with landlords and investors alike furious about the extra taxes they'll have to pay, and would-be first home buyers disappointed with the level of support on offer. The changes include an increase to the income cap for the First Home Loan scheme, and higher price caps for the First Home Grants scheme. The government is also doubling the so-called "bright line test" out to 10 years, which means if someone buys an additional property and sells it during that period, they will pay tax on any gains. In addition, the government has set aside $3.8 billion for the infrastructure required to make more land ready to build on. Our producer Matthew Theunissen headed to a property auction yesterday to find out how the news is being received.