PM grabs onto negative gearing worries

The coalition has seized on a warning by Australia's largest residential property developer that Labor's negative gearing policy risks creating an economic depression.

Stockland CEO Mark Steinert says property is such a major force driving Australian growth and activity, that even a small change in the market and in sentiment flows through the entire economy.

"What Labor is proposing is a massive experiment, a huge experiment with the largest asset class in Australia," Prime Minister Malcolm Turnbull told reporters in Brisbane on Tuesday.