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.


 

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

New social housing aims to transform Ivanhoe Estate New social housing aims to transform Ivanhoe Estate

The sprawling redevelopment aims to boost the supply of affordable housing in Sydney Read more

A new suburb will be built in west Melbourne A new suburb will be built in west Melbourne Mount Atkinson will become home to more than 22,000 people over the next 15 years ... Read more

Surging house prices threaten liveability in Melbourne Surging house prices threaten liveability in Melbourne Analysts warn the city could become just as unaffordable as Sydney, if property trends continue ... Read more

More Aussies would benefit from regional hubs linked to cities More Aussies would benefit from regional hubs linked to cities Shorter commutes could spur higher home sales in regional towns, analysts say ... Read more

More mortgage news and articles

Sponsored Links

Saturday, Aug 19, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • 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