Affordable housing is a challenge for all ages (and developers)

THE AUSTRALIAN FINANCIAL REVIEW

 

In the heat of an election campaign when the threat to property investors’ tax breaks if Labor wins power is seen as a fundamental challenge to both house prices and rents, some chilling statistics about housing affordability have emerged.

A recent Anglicare survey found that fewer than 1 per cent of properties in Greater Sydney and the Illawarra were affordable for singles and families on low incomes. The report said the state would need 200,000 more affordable homes by 2025.

Lobby group Urban Taskforce’s CEO Chris Johnson claims private developers can make up the shortfall in affordable housing if the government allows them to build more high-rises. The problem is that some politicians are clearly anti-high density development in established suburbs.

“The politicians and community activists across Sydney that are fighting against new urban development are the ones who are stopping the supply of affordable and social homes,” Johnson said back in March.

 

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