None of the 49 leading economists polled in the latest Economic Society of Australia survey said they believed the market was delivering good outcomes.
Articles on Housing Crisis series
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For the Commonwealth, the best measure is rent assistance. For the states, it’s a mix of two-thirds first homebuyer grants and one-third stamp duty discounts.
New estimates suggest that if just one state, New South Wales, scrapped its stamp duty, an extra 100,000 Australians would move homes each year.
Co-operatives make up only a small part of Australia’s accommodation stock but their users say the benefits warrant it being considered as a way of easing the housing crisis.
Helping adult children buy homes is risky, especially because what begins as a loan can turn into an unintended gift.
Australia builds only 45,000 new homes per quarter. If we really want to fix the rent crisis we’ll have to build more.
Neither investors nor super funds are prepared to wear the losses needed to put low-income Australians into housing. The government should double the size of its Housing Australia Future Fund.
A new government housing assistance scheme risks becoming a lottery because many more people are eligible than the 10,000 places available each year.
Even changing the tax system won’t end steadily-climbing property prices. They are the result of urbanisation, and while COVID has eased some of the pressures, it has added some more.
Top contributors
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Program Director, Housing and Economic Security, Grattan Institute
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Professorial Research Fellow, Institute for Culture and Society, Western Sydney University
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Deputy Program Director, Housing and Economic Security, Grattan Institute
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Senior Lecturer in Sociology, University of Newcastle
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Professor, Centre of Policy Studies and the Impact Project, Victoria University
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Associate Professor in Property and Real Estate, Deakin Business School, Deakin University
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Visiting Fellow, School of Economics, UNSW
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Associate Professor, Faculty of Business, Government and Law, University of Canberra
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Research fellow, Centre of Policy Studies, Victoria University
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Associate Professor of Sociology, University of Tasmania
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Deputy Director and Associate Professor, Centre of Policy Studies, Victoria University
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Visiting Fellow, Crawford School of Public Policy, Australian National University