Key Issues to Resolve Housing Affordability
Housing affordability is increasingly getting out of touch for the majority. Many regulators and experts have put their ideas into the ring, but there isn't much action that is shifting the needle. What do you think needs to be done? Vote up an issue or add a new one for consideration.
- Abolish Stamp Duty and Transition to Land TaxA land tax provides a consistent, equitable revenue stream where everyone contributes their fair share, regardless of their mobility or housing situation.
- Support tiny homesRemove regulations against tiny homes in driveways and backyards to provide an option for affordable housing.
- Extensive public housing buildJust like we offer non-market options in healthcare and schooling, we could do the same in housing, gradually building (or buying counter-cyclically) homes to around 10-15% of the housing stock in major cities.
- Tax Empty DwellingsEmpty homes and second homes should incur higher taxes to incentivize their productive use. A higher land tax rate—say 1.5 times the standard rate—would apply to properties that remain unoccupied and contribute nothing to solving the rental crisis.
- Support modular constructionSupport the development of an innovative, high-quality and sustainable modular approach to construction, to ensure Australia’s housing stock is future-fit
- Address construction skills shortageAddress the construction skills shortage by improving visa pathways to import skilled workers
- Limit (maybe even ban) foreign investorsBan (or limit) foreign investors/developers and non-citizens from purchasing residential property in Australia. This will put less pressure on price and allow young people to have a chance to enter the market.
- Lenders to pass on better mortgage rates for apartment dwellersThe Federal Government should require lenders to offer better mortgage rates for homeowners in higher density housing. Apartments in buildings with over 3 dwellings and more than 2 stories would receive interest rates 1% lower than stand-alone dwellings.
- Reduce minimum square meter age for 1B and studiosProvide more well designed small units for the single living population which is a growth demographic, whilst providing better public amenity and making use of currently under utilised land such as deep verges in front of housing rows Get creative with architecture and planning!
- Fostering Regional GrowthTo address Australia's housing challenge, we must unlock the potential of regional centers through strategic coordination. This involves job investment, enhancing education and healthcare, building infrastructure, and encouraging business investment.
- Abolish stamp duty for single parents repurchasing propertyNationally abolish stamp duty for single parents repurchasing a primary place of residence after a marriage or de facto relationship breakdown.
- Introducing the Last Home Buyers GrantIt’s time to rethink how we support housing mobility. Rather than continuing with the First Home Buyers Grant, which inflates demand at the lower end of the market and increases competition for first-time buyers, we should introduce a Last Home Buyers Grant.
- Up-Zoned Land to Deliver Social HousingPrivately Owned Land: 30% of the uplift value generated by rezoning must be allocated to social housing. Publicly Owned Land: 50% of the uplift value from publicly owned land sold for development will be allocated to social housing
- Utilise accommodation in spare bedroomsIncentivise people renting out spare bedrooms by alleviating tax on this type of rental income. Is more efficient to use this spare accommodation than construct new.
- Deep SupplyEmbed the complexity of supply for all built infrastructure and housing into all levels of education and legislation. Knowledge will help stakeholders assess the value of proven fast solutions like public investment, modular/prefabrication and medium density.