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The Real Estate Institute of Australia (REIA) says the major parties need to reveal their housing policies as part of the Federal election campaign and show how they are going to address affordability and supply challenges.
REIA President, Peter Bushby says the great Australian dream of owning your own home is now out of reach for many.
“Home ownership is declining after three decades of stable levels and first home buyers are finding it increasingly difficult to enter the market, despite the interest rate cuts.”
“Housing is a complex issue with a number of economic, social and infrastructure factors determining affordability and we want to see the major parties commit to taking a leadership role in developing a coordinated and strategic approach to housing, including complementary policies covering first home buyers and taxation reform.”
“COAG, which is moving away from competitive federalism, is long overdue for an overhaul, as witnessed by the national licensing proposal which has become a race to the bottom on standards.”
A recent Auspoll found housing to be the number one issue amongst voters and the recent Genworth Homebuyer Confidence Index found that 70% of non-property owners think that the Australian dream of homeownership is unrealistic.
“REIA would like to see a review process be established that requires regular reporting against a number of key indicators and highlights any emerging issues for policy and decision makers across all tiers of government and industry.”
“The availability of affordable housing is a goal that is shared by governments and all sectors of the community, yet at the national level there is not a comprehensive policy or plan for its achievement.”
“This impacts on the functioning of the economy as well as the wellbeing of individuals and the cohesiveness of communities and society. REIA is ready and able to participate in a national dialogue on the crucial issues,” concluded Mr Bushby.
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