Page 3174 - Week 11 - Tuesday, 9 November 2021
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vacancy rate for rentals in the ACT, we will still see a reduction in rental rates for Canberrans?
This suggestion ignores the fact that this policy change would significantly reduce revenue streams that provide affordable housing incentives in the ACT, that fund the building of public housing, that fund maintaining public housing and that fund the homelessness services in this city, amongst many other city services.
I remind Mr Parton that investment home owners already have the option not to pay land tax; they can do so by renting their properties at less than 75 per cent of the market rate to people who require affordable rental.
What do Canberrans want in a home? What do Canberrans value about living in this bush capital? Do they really all want a quarter-acre block? Let us imagine two scenarios. The first is the unlimited increased supply of RZ1 zoned land. This would inevitably see the clearing of Kowen Forest, the grasslands west of Belconnen and the land west of the Murrumbidgee—a sprawl of a city, where artillery roads would be bumper to bumper, full of people travelling to work every morning and afternoon. Does this really sound like the Canberra dream or is it some sort of dystopia?
The other option is a 30 per cent to 70 per cent density infill target that the government is aspiring to, where Canberrans get to live in well-designed, high-quality, medium density properties with good connections to public transport to connect them to a vibrant city, where car ownership can be optional, where services they need are close by and where nature is all around them, with beautiful hiking and mountain bike trails all around, and a 30 per cent tree canopy across the city. I know which one I would prefer, and the results of the last election show that many Canberrans agree. We are working towards implementing this vision.
The last year’s growth in the housing market has had a disastrous impact on housing affordability. Historically low interest rates have seen people enter the housing market, causing housing prices to rise by over 20 per cent in some areas of Canberra. This, along with low vacancy rates, has impacted on the price of rentals, meaning that many more people are in housing stress or are simply unable to afford to buy in the private market. There are now next to no affordable housing options for people on abysmally low levels of government support outside social housing.
While Mr Parton has made some rather unusual assertions about my motivations, about where I have spent a lot of my time and professional efforts, this is the reason why I have spent much of my time focused on what we need to do to support people at the lowest end of the market to have a safe and secure home.
Unfortunately, for many of these people, home ownership will not be possible due to the federal policies that have fuelled this housing affordability crisis. Again, it has been left to the states and territories to help to fix problems that are caused or exacerbated by the federal government.
I would like to conclude by saying that we will not be backing away from this challenge, from addressing the housing affordability crisis. I thank Mr Parton for
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