Not necessarily for wealth building.

Positively geared property can mean lower growth. For wealth building, the focus needs to be on capital growth. It doesn't mean all properties that are wealth building properties are negatively geared, but usually there is a correlation  between cash flow and capital growth, ie The higher the cash flow, the lower the capital growth.

We generally find that most properties that are negatively geared move to become positively geared within a few years.

The key is to find a balance between cash flow and growth.