With housing affordability the hot topic on many lips, Labor MP for Macquarie Susan Templeman said her party has a comprehensive policy to tackle the crisis.
"Home ownership is at a 60-year low, house prices have risen at four times the rate of wages growth over the past year, and house prices in Sydney have soared by nearly 50 per cent, which is an increase that we have definitely felt here in the Blue Mountains,” Ms Templeman said.
“Renters aren’t exempt from this either, with the proportion of low-income households in rental stress exceeding 40 per cent.”
She said a new Labor package of reforms included appointing a Minister for Housing. The package would create jobs, increase financial stability and reduce homelessness.
"Labor is once again leading on housing affordability … with a comprehensive policy to tackle this crisis,” Ms Templeman said.
She said the response included: reforms to negative gearing and capital gains tax concessions; working with states and territories to introduce a uniform vacant property tax across all major cities; limiting direct borrowing for houses by self-managed superannuation funds; increasing foreign investor fees and penalties; and establishing a bond aggregator to increase investment in affordable housing.
Also in the policy was boosting homelessness support for vulnerable Australians; getting better results from the National Affordable Housing Agreement; re-establishing the National Housing Supply Council and appointing a housing minister.
“Each of these proposals on their own is not going to change housing affordability, but together they will be able to make a real difference,” Ms Templeman said.
“Housing affordability remains an ongoing challenge for many Australians. Only a Labor government will tackle the housing affordability crisis, and work towards pushing the great Australian dream of owning your own home back within reach of middle and working class Australians.”
Opposition Leader, Bill Shorten, visited the electorate of Lindsay Saturday a week ago to promote the initiatives on housing affordability.
He was joined by shadow treasurer, Chris Bowen, opposition housing spokesman Senator Doug Cameron, and Lindsay MP Emma Husar.
“With spiralling house prices, the Australian dream of owning your own home seems more out of touch and elusive than ever before,” said Mr Shorten.
“That's why I think that all Australians are rightfully angry at Turnbull's weakness in moving away from housing affordability being a centrepiece of the budget.”
Ms Husar said housing affordability was a huge problem in western Sydney.
