Mortgage Choice chief executive John Flavell doubts the federal government would be bold enough to make changes to negative gearing.
Mr Flavell warned against altering negative gearing after unveiling a 7.8 per cent lift in the company's half year profit to $10.75 million, driven by a rise in home loan settlements.
The result sent Mortgage Choice shares more than nine per cent higher.
Mr Flavell said changes to investor tax offsets for negatively geared property would not improve housing affordability, and could lead to reduced supply and higher rental costs.
"It is a very finely balanced and pressured system our housing market at the moment, so any changes may have deep and negative impacts," he said.
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"I'd be surprised if anybody would be bold enough to do anything.
"It is politically expedient to talk about it, it's politically dangerous to do anything and at the end of the day I think commonsense and self preservation from our politicians will prevail."
The federal government is considering reducing the amount of tax deductions for investors or reducing the number of properties that can be negatively geared as part of its tax reform agenda.
The Labor opposition has vowed to restrict negative gearing for newly constructed properties and to cut the capital gains tax discount to 25 per cent from 50 per cent.
Mr Flavell said neither proposal would likely increase housing affordability.
"We have a growing population and an undersupply in new stock," he said.
"Anything that would increase pressure on the volume of new stock coming into the market is going to create increased pressure on affordability and would make the problem we've got even more acute."
Regardless of what happens, the fundamental demand for housing would continue to support Mortgage Choice, he said.
More than $6 billion worth of home loans were settled in the six months to December, up 8.5 per cent from a year earlier.
The company's total loan book increased by almost five per cent to surpass the company's $50 billion milestone.
Mr Flavell said momentum was positive in the first weeks of the second half of the year, with a record number of home loan inquiries that had converted to a strong number of settlements.
Mortgage Choice shares gained 15 cents to $1.80.
MORTGAGE CHOICE GROWS LOAN BOOK
* Net profit up 7.8pct to $10.75m
* Revenue up 5.4pct to $102.3m
* Fully franked interim dividend up half a cent to eight cents
