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]]>I’m not interested in simple 7 second grabs by journalists. The real change needs to be long term and structural reform. We shouldn’t be afraid of that debate.
Housing affordability is a supply side issue. Last Saturday there were approximately 800 housing auctions in Greater Sydney. If you make the conservative assumption that there were 3 or 4 people in each bid, there were approximately 2,500-3,000 people attempting to buy a home. Last year the NSW State Government released 2,500 blocks of land for sale. The State Government own the land, not us. However, as we speak, we are looking into doing a review of Federation and a taxation review. We need to look at both side by side.
One of the major reasons the State Government doesn’t want to release land is because they live off Stamp Duty and land tax – a product of the valuation of the land i.e. Stamp Duty is a percentage so the higher it is, the more they make, and land tax is a percentage of valuation. That was around $12 billion last financial year. This is why systemic tax review, not just State tax but Federal tax too (including Capital Gains Tax, negative gearing and income tax), is so vital. A complete and thorough tax review and structural reform is the only way to tackle housing affordability.
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]]>The availability and affordability of appropriate housing is important for all Australians and for society as a whole – both socially and economically.This extends way beyond simply having a roof over one’s head. It impacts on economic and social participation, productivity, labour mobility and personal and family wellbeing.
The Government has adopted a considered, methodical and measured approach to ensure all Australians can access affordable, safe and sustainable housing that contributes to social and economic participation, and to addressing the complex issue of homelessness.
We want to increase housing supply, improve community housing and assist individuals experiencing homelessness through targeted support and services. We are working closely with the states, territories and local governments to increase the supply of housing built in Australia by streamlining current land release and planning processes, cutting both red and green tape and reducing the taxes levied on the development of new housing stock. We are continuing to invest $1.3 billion each year through the National Affordable Housing Agreement and have recently announced a further $230 million to ensure that the National Partnership Agreement on Homelessness will continue until June 2017.
I hope discussions such as those today at the Inaugural Annual Social Housing Conference in Fitzroy Hall, Burwood, where I had the pleasure of representing The Hon. Scott Morrison MP will help to build foundations for better housing outcomes for all Australians.
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