Home News Morrison’s bid to tackle housing affordability wins support

Morrison’s bid to tackle housing affordability wins support

Font size :
Scott Morrison has wasted little time in identifying one of his key priorities as the country’s new Treasurer: housing affordability. To achieve this, he is partnering with the states to increase the supply of new homes and release more land for housing.

Industry information suggests that while the demand for new houses and better living conditions have increased over the past years, supply has remained static and unable to meet the market’s growing needs.

Morrison had previously brought the issue to the government’s attention during Tony Abbott’s prime ministership—a notable attempt, as housing was not previously featured on the agenda.

The new Treasurer is adamant about pursuing the house price increase issue since the problem exacerbates homelessness, another costly concern.

Property Council chief executive Ken Morrison is all for the Treasurer’s crusade for housing affordability.

“It is absolutely time to start targeting the supply of new homes which is the real culprit for increases in house prices,” he said.

“One or two years of record high construction levels won’t make up for a decade of underbuilding.

The chief executive offers ideas of his own that could help the market: “Introducing incentives to encourage states and territories to reform their planning systems and promote housing supply based on the model that achieved success in bringing on critical infrastructure investments could accelerate this process,” he said.  

He also suggests tax reforms wherein taxes that impede growth and only raise the costs of living (such as stamp duty) should be excised.


 

Whether you are looking to buy your first home, move home, refinance, or invest in property, a mortgage broker can help. Access loans from all the major lenders, get help with paperwork – plus there is no charge for this service. Get help from a local mortgage broker

Mortgage News and Articles

House prices return to more affordable levels in mining towns House prices return to more affordable levels in mining towns

While the end of the mining boom caused property prices to collapse, on the plus side, homes are more affordable again Read more

Borrowers should anticipate a possible rate hike Borrowers should anticipate a possible rate hike Some experts advise borrowers to look for a fixed loan that allows extra repayments so that they can whittle down the balance sooner ... Read more

Why choosing the right mortgage is hard for first-home buyers Why choosing the right mortgage is hard for first-home buyers Many feel overwhelmed by the sheer range of products and interest rates on offer, a new survey reveals ... Read more

Mortgage applications drop in second quarter Mortgage applications drop in second quarter This marks the “beginning” of a downward trend, says Equifax executive ... Read more

More mortgage news and articles

Sponsored Links

Wednesday, Jul 26, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Whether you're a first homebuyer, looking to refinance, or investing, it's important to have the right loan for your needs. Just fill in a few details below and one of our trusted mortgage advisers will contact you.

A quick & easy way to find the right home loan
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords