Page 1548 - Week 05 - Wednesday, 4 May 2016
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crackdown on super tax concessions for the rich without any changes to the negative gearing rules could have the unintended consequence of pushing more money into property.
I and this side of the house hope this effect, if it happens, will be modest, but it does make it clear that the assertions in Ms Lawder’s motion—that is, that a change to land supply in the ACT is the sole factor in improving housing affordability—are wrong. What the article did was highlight yet another part of the federal budget that did nothing for the hopes and aspirations of younger Australians and those who dream of owning their own home, like their parents.
I also suggest that the multiple sources this motion points to all make it blatantly clear that housing affordability rests on a need for good legislation and policy at all levels of government. I do note, however, that many of the organisations it mentions have endorsed the federal tax changes proposed by Labor. The pressures I see among people here in our community are the reasons I support changes proposed by the Shorten opposition also. It is no secret that low income earners struggle in more expensive housing and rental markets such as ours, which is why the ACT government has been active on housing affordability for many years.
The government’s affordable housing action plan addresses all aspects of affordable housing, including planning reform, land release, public and community housing, aged persons housing, and homelessness. Elements of this strategy are being adopted by other jurisdictions and, as I have said, we are keen to share our knowledge on the national level.
Nine years into our plan, the government has succeeded in its goal of supporting housing affordability for all Canberrans and, given the relative wealth of our community, our housing market is far more affordable than that of other capital cities. Despite this, the government acknowledges the ongoing challenges and has demonstrated a clear commitment to those in the greatest need.
In particular, this includes those households among the bottom 40 per cent of income earners who pay more than 30 per cent of their income on housing. Initiatives already in place or being developed for households in this category include the provision of a loan facility to Community Housing Canberra for the delivery of affordable rental properties and affordable homes to purchase; under this scheme the construction of 401 affordable rental homes for singles and families earning between $30,200 and $53,000 will become available; the availability of shared equity schemes for tenants in public housing to enable them to buy their home; the introduction of a home share program offering accommodation for low income singles and support for older persons to remain in their homes; conveyancing duty and land payment deferral for first homebuyers.
Across the entire Canberra housing market the government has placed emphasis on supply side measures which include the land release, the land supply pipeline and planning and building regulation. Against this commitment the government has released more than 33,000 residential dwelling sites since 2006-07. We have also
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