Ahead of the federal election on May 21, the Mercury is asking candidates in the Whitlam electorate questions on the issues that readers have identified as the most important to them.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
One of these issues is housing affordability.
The question the Mercury put to the candidates were:
- Is the dream of someone owning their own home no longer realistic and why?
- How hard is it for younger people to get into the housing market?
- Should negative gearing be removed to reduce the appeal of investors buying up properties?
You can read the candidates' responses below.
The Morrison Government has a suite of measures designed to assist first home buyers to bring forward the purchase of their own home. Already, The Super Savers Scheme allows first home buyers to use the tax free environment of their superannuation fund to save for a deposit.
The Morrison Government's Home Guarantee Scheme is being extended with 50,000 places available per year. This means that first home buyers, among others, are able to avoid the burden of lenders mortgage insurance even with deposits as low as 5%, this scheme has already helped 11,516 buyers in New South Wales.
We are also supporting home buyers and the construction industry through our HomeBuilder program which has supported 25,973 building projects in New South Wales. We will continue to work with the NSW state Liberal government to work on reforming stamp duty. Access to superannuation to fast track a first home buyers purchase requires deep consideration.
House Price pressures involve all tiers of government. I use the example of Albion Park. In Albion Park some 15% of all dwellings are occupied by just one resident. Yet only 0.3% of all dwelling types are apartments or units. There has been a failure of planning over many decades for local governments of all stripes. We must be cognisant that with 50k people to call the Illawarra home by 2050, we will have a mix of families, singles, elderly disabled etc and that we must cater for a whole community and housing types, not just mum Dad and two kids.
I will work with all tiers of government to ensure that we have an adequate supply of new dwellings coming onto the market, but also a local housing strategy that ensures that the mix of new construction more adequately meets the needs of the community.
The Greens answer to Australia's housing crisis is simple. The federal government needs to re-engage in the process of providing social housing, affordable rentals and an affordable shared equity home ownership scheme.
We commit to building 1 million new homes over the next 20 years, and making them affordable, accessible and sustainable, and administered by a Federal Housing Trust.
750,000 of these homes would be to clear the 10 year backlog of supported housing requests.
The Greens have also budgeted $7 billion for repairs and maintenance of existing housing.
This massive building project will create 45,000 new jobs, including employment pathways for apprentices, as well as reduce the upward pressure on house prices.
125,000 of these homes would be available to buy into in a shared equity scheme with the Federal Housing Trust. This would involve the waiving of stamp duty, and capping of the maximum price to the public of $300,000. If the owners do choose to sell in the future, the house would revert back to public hands, so there is no slow drain on social housing.
The third tier to the scheme is the provision of 125,000 affordable rental properties dedicated to essential workers like teachers and nurses, so they can afford to live near where they're needed.
One of the main responsibilities of the Federal Housing Trust would be to distribute these works throughout the country including urban, rural, regional, and remote areas. Given that there are 6000 people on the waiting list for public housing in the Wollongong LGA alone, I will continue to advocate for the Illawarra and Southern Highlands to get our fair share.
Labor knows have a housing crisis in Australia. It's harder to buy a home today than ever before.
There is no silver bullet to fix this problem, but a government that actually plans for the future can help Australians realise their dream.
That's why Labor has announced several major housing policies to make it easier for Australians to get a roof over their heads.
Anthony Albanese announced Labor's Regional First Home Buyer Support Scheme right here in the Illawarra. This scheme will help 10,000 Australians in regional areas like the Illawarra and the Southern Highlands to buy their first home. First home buyers will save up to $32,000 in mortgage insurance and be able to secure a home with a deposit as low as 5 per cent - with the government guaranteeing up to 15 per cent of the purchase price.
Labor will also deliver our Help to Buy scheme - a plan to help more people buy a home sooner by cutting the cost of a home by up to 40 per cent. Eligible home buyers will need a minimum deposit of 2 per cent, with an equity contribution from the Federal Government of up to a maximum of 40 per cent of the purchase price of a new home and up to a maximum of 30 per cent of the purchase price for an existing home.
Alongside our plans to make it easier to buy a home, we'll also support affordable social and community housing through our Housing Australia Future Fund. Investment returns from this fund will build 30,000 new social and affordable housing properties in its first five years - including 10,000 affordable homes for frontline workers like police and nurses.
Did not respond.
Did not respond.
PREVIOUS TOPICS
You can see what the candidates thought about:
EDUCATION: here
AGED CARE: here
COST of LIVING: here
HEALTH: here
CLIMATE: here.
Love politics? Sign up to receive The Echidna in your inbox each weekday.