{"id":38752,"date":"2022-05-24T17:23:53","date_gmt":"2022-05-24T05:23:53","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=38752"},"modified":"2022-05-24T17:23:53","modified_gmt":"2022-05-24T05:23:53","slug":"election-result-ushers-in-new-era-for-housing-policy","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/election-result-ushers-in-new-era-for-housing-policy\/","title":{"rendered":"Election result ushers in new era for housing policy"},"content":{"rendered":"

PHOTO: Aspiring home owners will be eagerly awaiting signs that new prime minister Anthony Albanese can indeed deliver them a better future.<\/strong><\/p>\n

REPUBLISHED WITH PERMISSION –\u00a0 API MAGAZINE<\/a><\/p>\n

Australia this weekend chose a new prime minister, Anthony Albanese, and installed arguably its most politically diverse government in history.<\/p>\n

While it remains unclear whether the Australian Labor Party (ALP) will govern in its own right, a massive swing away from the Liberal-National Coalition ensured the Mr Albanese became the country\u2019s 31st prime minister.<\/p>\n

Scott Morrison has quit as Liberal Party leader.<\/p>\n

\"Anthony<\/a><\/div>\n
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Inside the humble housing commission home where our new Prime Minister was raised<\/a><\/h2>\n<\/header>\n<\/div>\n

For the property sector that employs 1.4 million people and impacts every family and person in the nation, the election result represents a major transition in housing policy.<\/p>\n

Affordability for renters and buyers alike was one of the defining issues of a long campaign.<\/p>\n

Superannuation accounts around the country will no longer be a tool to be raided for home ownership. The government of Scott Morrison had proposed lowering the age threshold for those who could access downsizing contributions to superannuation. A second policy was a scheme that would allow Australians to borrow up to 40 per cent of their superannuation to purchase their first home (capped at up to $50,000).<\/p>\n

But it is the\u00a0Labor Government that will now dictate terms, with tackling homelessness and a home equity scheme, whereby the government effectively co-owns a property with first-home buyers, the key planks of its housing focus.<\/p>\n

\"Anthony<\/a><\/div>\n
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Help for first home buyers: What Anthony Albanese as prime minister means for YOU<\/a><\/h2>\n<\/header>\n<\/div>\n

Real Estate Institute of Australia (REIA) President Hayden Groves said vital policies such as the \u2018Help to Buy\u2019 but also the \u2018Help to Supply\u2019 announcement with the National Housing and Homelessness Plan are a critical priority.<\/p>\n

\u201cWe applaud the commitment to develop the National Housing and Homelessness Plan, which is badly needed, as well as the innovative solutions to unlock supply.<\/p>\n

\u201cAn evidence-based approach to a National Supply and Affordability Council with the right objective experts \u2013 including real estate practitioners \u2013 should provide a proper annual benchmark for Australia\u2019s supply crunch.\u201d<\/p>\n

Mr Groves also said he looked forward to working with the incoming government on the Help to Buy initiative.<\/p>\n

\u201cThe proposed KeyStart-style program help to buy for 10,000 eligible low and middle-income earners a year is a sensible thing and REIA has supported the development of a feasibility study for a national KeyStart style program in the past,\u201d Mr Groves said.<\/p>\n

Property Council of Australia Chief Executive Ken Morrison said they would work with the government to address the affordability crisis.<\/p>\n

\u201cWe look forward to working with an Albanese Government on the pressing issues of housing affordability, the skills challenges facing business and helping our cities and suburbs thrive.\u201d<\/p>\n

In the lead-up to the election,\u00a0both major parties were criticised\u00a0for tackling housing affordability from the demand perspective, by helping those for whom the property ladder was a rung too high.\u00a0They failed, however, to\u00a0tackle the problem of a lack of supply of new homes.<\/p>\n

Housing affordability is the political fault line in Australia right now and I think we\u2019ve overlooked that.<\/p><\/blockquote>\n

–\u00a0Former Victorian Liberal Deputy State Director Tony Barry<\/p>\n

Steve Douglas, Executive Chairman of SMATS Group, which owns the aussieproperty.com company, said supply remained the primary challenge for the Labor government if it was to make any inroads in seriously reigning in the lack of affordability confronting first-home buyers and others looking to improve their housing situation.<\/p>\n

\u201cWe need more supply, more land; medium high density quality living – not small sized apartments, but properties of a decent size – so some policy changes at state and federal level are needed to make it easier to develop, along with some asset release, removal of massively high stamp duty and GST on new housing are the only ways to fix this,\u201d he said.<\/p>\n

\u201cIt\u2019s important to encourage downsizing by older Australians to free up larger properties for families, to improve road and rail infrastructure to green land sites, and to encourage movement to satellite cities, such as Sydney\u2019s\u00a0Parramatta\u00a0and Perth\u2019s\u00a0Joondalup, through job creation and the provision of community facilities.\u201d<\/p>\n

\"Caddick\"<\/a><\/div>\n
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Inside Melissa Caddick\u2019s $15m home fire sale<\/a><\/h2>\n<\/header>\n<\/div>\n

Can the Liberals regroup?<\/strong><\/p>\n

In the wake of the election carnage that saw both parties\u2019 primary voted diminished, it was the Coalition that suffered the most.<\/p>\n

It lost blue ribbon seats held by senior party members but it often wasn\u2019t the Labor party doing the damage.<\/p>\n

A lot of the seats the Coalition lost were on big margins and had never been lost before, but they fell to independents, known as the \u2018teal wave\u2019, and at least one seat went to the Greens.<\/p>\n

Key factors in their demise were seen to be a lack of popularity among women voters that has prompted calls for quotas within the party, and a perceived lack of interest in seriously tackling climate change, which was frequently cited as the highest priority among voters.<\/p>\n

But housing, along with cost of living, were also major issues\u00a0the public never saw adequately addressed\u00a0during their terms in office.<\/p>\n

Former Victorian Liberal Deputy State Director Tony Barry claimed the Liberals had lost their base.<\/p>\n

\u201cIt is a teal bath,\u201d he said.<\/p>\n

\"Australia's<\/a><\/div>\n
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Property prices have risen seven times faster than wages in a year. Can it continue?<\/a><\/h2>\n<\/header>\n<\/div>\n

\u201cThe party needs to redefine and go back to its original roots and the aspirational class, the outer suburbs \u2013 housing affordability is the political fault line in Australia right now and I think we\u2019ve overlooked that.<\/p>\n

\u201cThe great thing about housing affordability, which I think is impacting enormously, is you can\u2019t create conservatives if they have got nothing to conserve.<\/p>\n

\u201cIf you don\u2019t own a house, you can\u2019t conserve.<\/p>\n

\u201cThat\u2019s our natural constituents and we need to get back to that.\u201d<\/p>\n

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