Finding tomorrow’s hot property, TODAY

Housing Affordability Recommendations

Housing Affordability RecommendationsRecommendations from an inquiry into housing affordability suggest removing over-regulation and over-taxing of the housing industry will improve affordability.

The House of Representatives Standing Committee inquiry into housing affordability makes 16 recommendations including that first home buyers be able to access their superannuation as security for a home loan.

Committee chair and MP, Jason Falinski, says housing should be easily accessible and affordable as Australia has more useable land than anywhere else in the world.

He says despite our low population and high wages, the five largest capital cities are all in the 25 least affordable property markets in the world.

The report recommends no change to current negative gearing legislation but says stamp duty should be replaced with a land tax.

It says state and local governments should increase urban density in appropriate locations and incentive payments be given to state and local governments to introduce better planning policies.

The report recommends a Federal Government review into the build-to-rent housing market and that it implement schemes to facilitate private sector partnerships to deliver discount-to-market rent-to-own affordable housing.

It calls on the Reserve Bank of Australia to not make any changes to its current charter and monetary mandate, to ensure that house prices are not a specific objective of monetary policy.

Falinski says the report identifies opportunities for all levels of government to unlock more housing supply, create more affordable homes and increase home ownership.


Subscribe to our newsletter today and receive a FREE copy of How To Identify Hotspots