These are some of the recommendations put forward in a recently released Australian Government report into housing affordability.
The report contained 16 recommendations targeting state and federal government, spanning planning laws, taxes and incentives to boost housing supply.
“Other key findings of the report were that state and territory governments should replace stamp duty with land tax, that negative gearing should remain untouched, and that first-home buyers be allowed to use their superannuation as security for home loans,” reports realestate.com.au.
Well, home buyers would be pretty happy with that deal.
But what happens now? Will the recommendations be implemented?
That is the $10 trillion question – which is pretty close to the value of all Australia’s residential property combined.
Only time will tell. This hasn’t been the first report into Australia’s housing affordability challenges, but let’s hope it results in some action and becomes one of the last!
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