Greens housing spokesperson Senator Lee Rhiannon says the Turnbull government urgently needs to address the issue of negative gearing and capital gains tax discounts, which is directly contributing to the housing crisis.
Wollongong is now Australia’s third most expensive city to live, with house prices up 16.7 per cent over the year and 7.7 per cent over the December quarter. The median house price is now $700,000.
Anglicare’s 2016 Housing Affordability Snapshot found that only 0.4% of rental properties in the Greater Sydney and Illawarra region were affordable and appropriate for a single person on minimum wage.
“Decades of generous tax concessions to investors have supercharged the housing market,” Senator Rhiannon said.
“That is directly contributing to this problem and yet both Prime Minister Turnbull and newly elected NSW Premier Gladys Berejiklian insist they will not touch it.
“The Greens’ longstanding position is to end the unfair tax breaks that put investors ahead of prospective buyers looking for homes to live in, and we will continue to fight for that.
“Federal and state governments should be making it easier for people to buy their first home and not their third or fourth property. Instead they remain devoted to wealthy property investors, and continue to deny basic truths about the impacts of negative gearing.
“From ‘get a job’, to ‘get rich parents’, to ‘leave the city’ – Coalition MPs appear ready to lecture people with useless advice about what to do, but the Government won’t actually do anything themselves.
“Making affordable housing available to all is the obligation of the government, and for starters they must scrap the generous tax concessions that are directly contributing to this crisis,” Senator Rhiannon said.