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Katter, Oakeshott, Windsor, Brandt and Wilkie hold the key to saving the Great Australian Dream
30 August 2010 Housing affordability must be front and centre of negotiations between the MPs holding the balance of power and leaders Julia Gillard and Tony Abbott, as to which party forms the next Federal Government.
In a letter to the 5 powerbrokers released today, the REINSW has warned that homeownership is becoming an unattainable dream for thousands of Australians who are looking to the key MPs for action.
“Katter, Oakeshott, Windsor, Bandt and Wilkie hold the key to saving the Great Australian Dream”, said REINSW President, Wayne Stewart.
“In New South Wales alone, the gap between demand for housing and supply is expected to exceed 230 000 dwellings in less than 10 years.
“In the last 12 months less than half the demand for housing has been met.
“A roof over one’s head is not a luxury but a necessity and the Independents and Green MP now have the power to deliver real reform which will keep the Great Australian Dream alive.
“The two major parties all but ignored the issue of housing affordability during the election despite clear evidence that inefficient and inequitable tax regimes at all levels of government are driving the cost of housing higher.
“Australia is a nation in real need of a Real Tax policy which will secure the economy, deliver incentive for investment and end the housing shortage.
“We have written to the 5 key MPs holding the balance of power to ensure that the core values of a fair go and the Great Australian Dream are given priority by whichever of the major parties forms government.
“REINSW has suggested several measures to stimulate housing development in its Real Tax Policy, which was delivered to the Federal Government and Opposition.
“Whoever the MPs holding the balance of power choose to partner with, we call on them to force immediate action to:
- incentivise the States and Territories to reduce land tax and transfer duty rates, as well as implement annual and fair indexation of transfer duty thresholds
- remove GST on residential property supplies
- allow income tax deductions for stamp duty on property investment.
“The housing shortage and affordability crisis in Australia is no myth; it is well supported by numerous government and independent reports.
“By way of example, New South Wales built 23,300 dwellings in 2009 for an underlying demand of 55,900 dwellings and if this trend continues, then the housing shortage is expected to reach 232,600 dwellings by 2020.
“As the 5 MPs negotiate their way to power, Australians are looking to Katter, Oakeshott, Windsor, Bandt and Wilkie to deliver urgent action on housing affordability”, said Mr. Stewart.
The REINSW ‘Real Tax Policy’ is available at www.reinsw.com.au/realtax
Please direct media enquiries to Julian Brophy on 0408 276 749
26 August 2010
Dear,
RE: Housing Supply and Affordability
We refer to the various policy announcements by the major parties during the recent election campaign.
The Real Estate Institute of New South Wales (the “Institute”) served a copy of its Real Tax Policy on both the major parties and sought from them their policy in relation to the housing shortage and affordability crisis facing Australia. Neither party was prepared to provide the Institute with their vision for a solution to this issue.
The housing shortage and affordability crisis in Australia is no myth; it is well supported by numerous government and independent reports. By way of example, New South Wales built 23,300 dwellings in 2009 for an underlying demand of 55,900 dwellings. If this trend continues, then the housing shortage is expected to reach 232,600 dwellings by 2020. Urgent action is required.
The Institute’s Real Tax Policy urges the Federal and State Governments to immediately reform property tax in Australia to improve housing affordability and to remove impediments to investment in the private rental market.
We appreciate that you are in discussions with both the major parties in relation to the formation of the next Government and, in that regard, request you to seek from both parties their policy and strategy to address this issue. A roof over your head and a place to call home is not a luxury, it is a necessity - and without urgent action the Australian dream of home ownership will remain just that, a dream.
We would be pleased to provide you with any additional information you require to participate in this most important debate.
Yours faithfully,
Wayne Stewart
President
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