The lowest blow of this election campaign may have come from a firm of real estate agents that abused its position of trust to scare renters about Labor's proposed negative gearing changes.

If you are one of those renters, relax. You have nothing to fear from the changes. You might even benefit from them. The only interests the real estate firm is protecting are its own.

If there is reduced demand from investors, house prices will fall. Credit:Peter Rae

Late last week, Raine & Horne principal Graham Cockerill wrote to tenants saying Labor's changes would be "devastating" and included material from the Real Estate Institute of Australia warning of what might happen if "the planned changes to negative gearing do go ahead".

"The fall in property prices will decrease the value of 18 million Australians' retirement nest eggs," and "rents will rise" the material warns. "Further, government savings will be less than estimated, unemployment will rise and our whole economy will be in jeopardy."