Consumer News

Group to tackle housing affordability

27 February 2017

By Tim McKibbin – REINSW CEO

Housing affordability in Sydney has been and continues to be a major cause for concern and is an issue that urgently needs addressing.

In a positive move the NSW Government has established a working group to develop a strategy to tackle housing affordability.


The former Reserve Bank of Australia governor, Glenn Stevens has agreed to assist the group and given the complexities attaching to this problem it will be interesting to see the proposed remedy.

There are some immediate and obvious initiatives that could be implemented, improving the outdated planning system which currently slows down supply would definitely help.

A review of stamp duty is also fertile ground for reform. The current stamp duty rates have not been amended over 30 years, and urgently need addressing.

Whatever the outcome, I hope it will bring relief for homebuyers.