24 August 2010
Last week the Coalition promised to introduce a “National Home Affordability Compact” if it’s elected to government.
The proposed Compact will give the Federal Government an ability to demand increases in land supply from state planning authorities.
According to the Coalition’s policy, the National Home Affordability Compact will contain housing targets for each State or Territory over five years. In order to continue to receive federal funds, states and territories will need to increase land supply and reform their planning and approval systems. States and territories will need to set affordability targets to guide land supply and dwelling approvals. In order to receive federal funds, states and territories would need to demonstrate that they had a plan for delivering these targets and those approvals and land is made available consistent with the targets established.
The policy also promises to tackle state, territory and local development levies.
The policy is available here.
The Labor Party did not release a housing policy.
