Looks like Australia is having similar problems as New Zealand is facing. The widening cracks in Australia’s housing system can no longer be concealed. The extraordinary recent debate has laid bare both the depth of public concern and the vacuum of coherent policy to promote housing affordability. The community is clamouring for leadership and change.
The Productivity commission did a report in 2012 and outlined many issues, actually a very interesting report to read. Another updated draft report was just released two weeks ago and contains pretty much the same findings. Yet again I note that the issues have not changed in 3 years, are well documented and yet not addressed.
I will be presenting at the Green Living Show 2015 at the ASB Showgrounds, Greenlane, Room 3, 10:30 am on Sunday 28 June. The subject will be: “Smarter House Design – Affordable And Sustainable Homes For New Zealand”.Executive Summary: Land and resources become scarcer and more expensive, energy usage hikes while greenhouse gas emission continues to rise.…
The median house price in Auckland is now at $750K, a number that our family would probably struggle to afford with us two parents working in well advanced positions.
Clearly investors are currently setting the market price as they have access to the required funds, and a CGT will reduce numbers of investors, depending on the level it is set at, freeing the market up for owner buyers.
We actually building larger houses with less people in it and complaining about the cost.