A dwelling – unlike the land on which it is situated – is a depreciating asset, under Australian tax law.
While land values generally increase over time, dwelling values (including their fixtures and fittings) decrease. What this means for you is that you can claim as a tax deduction the depreciation of your investment dwelling and its inclusions. New homes tend to depreciate faster than old ones in the first ten years so this might be a consideration when you’re making an investment.