Peak body slams Parliament's "lack of unity in decision-making" when it comes to housing
The Real Estate Institute of Australia has expressed concern over the “lack of unity in decision-making” across the Parliament and the political spectrum regarding housing Australians.
The Senate's final report into "The worsening rental crisis in Australia," released on Dec. 7, presented 26 disparate recommendations, none of which received multi-partisan support, REIA reported.
The real estate body said in a news release that there was “no hope” for the housing market if Parliament could not agree that supply was the problem.
Leanne Pilkington, the president of REIA, said that despite over 16,000 submissions contributed by various stakeholders, including renters, homeowners, family investors, industry professionals, and community advocates, no common recommendation emerged. Pilkington emphasised the need for a cohesive approach to addressing Australia's housing challenges.
The final report did shed light on several crucial findings and initiatives that should be prioritised going forward. These include:
- supporting investors to supply the rental market
- placing tenants at the centre of the rental transaction and considering their experience
- significantly increasing Commonwealth Rental Assistance to align with market rents
- urgently focusing on home ownership and stamp duty reform
- increasing the housing stock across the private sector, social housing, and affordable housing sectors, particularly for vulnerable groups
Read next: REIA reports on state of Australia’s housing market
The role of the federal government in providing intergovernmental coordination on policy reforms, tenant support, and funding was also highlighted. Additionally, tenant advocates cautioned against viewing corporate landlords, such as build-to-rent, as a panacea for the rental crisis. Planning reforms to boost the supply of affordable and higher-density rental housing were also deemed necessary.
“We thank state and territory governments for rejecting rent freezes and rent controls as per their commitment from the National Cabinet meetings in August 2023,” Pilkington said. “We’d also note the nonsensical suggestion from the chair in relation to redirection of ‘foregone revenue’ from negative gearing and CGT, which will do nothing for housing supply and nothing for budget repair.”
The Australian government must respond to Senate Inquiry reports within three months.
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