Housing affordability is now firmly on the federal election agenda.Two months after the Property Council released polling showing the depth of community concerns on the issue, we’ve seen first the Government and now the Opposition announced targeted schemes to help home buyers.
As I laid out in my opinion piece for The Daily Telegraph this week, these schemes are worthy, targeted and welcome – but by themselves they don’t represent the systemic overhaul which is needed.
We desperately need better policy frameworks which provide the housing supply and choice that our growing communities need.
Labor’s proposal to create a Housing Supply and Affordability Council to produce housing supply targets for states and territories and identify best practice solutions to supply blockages has potential.
But this council will require real teeth to be effective. It will need to sit within a system of carrots and sticks to ensure these targets are met.
With interest rates moving into an upwards cycle, it’s more important than ever that Australia tackles this BBQ-stopper head on.