The Housing Crisis

[Bobski]

Labor proposes to let all first home buyers purchase with 5 per cent deposit

Olivia Caisley

Prime Minister Anthony Albanese is set to unveil a plan to allow all Australians looking to climb onto the property ladder to buy their their first home with a 5 per cent deposit, avoiding lenders mortgage insurance (LMI).

The proposed expansion of an existing, income-capped program would instead be made universally available for a wider range of homes by a re-elected Albanese government.

Under the landmark housing package to be unveiled on Sunday, the federal government would also put $10 billion towards building up to 100,000 homes exclusively for first homebuyers.

The plan is part of a bid to tackle Australia's housing affordability and court young voters ahead of the May 3 federal poll.

The 5 per cent deposit guarantee would allow thousands of Australians to sidestep the traditional 20 per cent hurdle, potentially slashing years off the time it takes to save for a home.

"When a young person saves a 5 per cent deposit, my government will guarantee the rest with their bank," Mr Albanese said.

"This will help people buy their first home faster, without paying the burden of Lenders Mortgage Insurance."

Mortgage and rental stress are shaping up as big issues in federal election campaign.

Some 50,000 Australians a year already access the income-capped version of the scheme, but the government expects that number will grow to nearly 80,000 after the expansion.

The commitment builds on the Albanese Government's existing $33 billion investment in housing, taking the total package to $43 billion — which Labor claims is the largest housing investment in Australia's modern history.

From January 2026, following industry consultation, every first home buyer will be eligible to purchase a home with just a 5 per cent deposit, while the government guarantees up to 15 per cent of the loan value — eliminating the need for LMI, which currently costs the average buyer around $23,000.

The government will also raise the price caps for properties eligible under the scheme to ensure it benefits a broader range of first home buyers, especially in areas like Sydney and Melbourne where average dwelling prices are much higher.

The scheme will not have income caps or a limit on the number of places available.

Sydneysiders will be able to buy their first property for as much as $1.5 million with a $75,000 deposit, while a Queenslander could purchase an $850,000 home with a $42,500 deposit.

Capital city House price limit for scheme
Sydney $1,500,000
Melbourne $950,000
Brisbane $1,000,000
Perth $850,000
Adelaide $900,000
Hobart $700,000
Canberra $1,000,000
Darwin $600,000

Regional centres within a state will have the same price limits as the state capital.

For example, Newcastle would have a $1.5 million limit to match Sydney.

Other regional areas would have smaller limits, different for each state or territory tied to the average price for housing there.

Meanwhile, the government says it will commence construction on 100,000 homes — reserved solely for first home buyers — in 2026-27, with owners able to move in from the following financial year.

The rollout will be a joint effort in partnership with states, developers, and community housing providers.

Housing Minister Clare O'Neil described the reforms as "nationally game-changing" and told the ABC that deals would be struck with the states on day one of a re-elected Albanese government to set a new course for housing.

"We've got a housing crisis in the country that's been a generation in the making," she said.

"In our first term we laid really important foundations to address the housing needs of Australians, in our second we want to go further, much further."

As the campaign trail heats up, Labor's housing policy marks one of the most significant plays yet in a contest likely to be decided by cost-of-living pressures, generational opportunity, and economic confidence.

And the choice of Perth as the backdrop for this signature policy announcement is no coincidence.

Western Australia delivered a 10.5 per cent swing to Labor in 2022, helping the party secure four additional seats in the state.

Mr Albanese hopes to repeat his success and signal the government's determination to retain — and potentially expand — its foothold there.

Source

It's good to see measures tailored specifically to first home buyers, but I question how many of them are in a position to pay off a $1.5 million mortgage with repayments of approx $2500/week, even if they are able to save (or are gifted) the $75K deposit.

People should not be encouraged to get in above their heads, and the main problem remains that house prices are simply way too high compared to median income. Someone also needs to remind the PM that not all first home buyers are "young" people.

[SBD]

Labor proposes to let all first home buyers purchase with 5 per cent deposit

Olivia Caisley

Prime Minister Anthony Albanese is set to unveil a plan to allow all Australians looking to climb onto the property ladder to buy their their first home with a 5 per cent deposit, avoiding lenders mortgage insurance (LMI).

The proposed expansion of an existing, income-capped program would instead be made universally available for a wider range of homes by a re-elected Albanese government.

Under the landmark housing package to be unveiled on Sunday, the federal government would also put $10 billion towards building up to 100,000 homes exclusively for first homebuyers.

The plan is part of a bid to tackle Australia's housing affordability and court young voters ahead of the May 3 federal poll.

The 5 per cent deposit guarantee would allow thousands of Australians to sidestep the traditional 20 per cent hurdle, potentially slashing years off the time it takes to save for a home.

"When a young person saves a 5 per cent deposit, my government will guarantee the rest with their bank," Mr Albanese said.

"This will help people buy their first home faster, without paying the burden of Lenders Mortgage Insurance."

Mortgage and rental stress are shaping up as big issues in federal election campaign.

Some 50,000 Australians a year already access the income-capped version of the scheme, but the government expects that number will grow to nearly 80,000 after the expansion.

The commitment builds on the Albanese Government's existing $33 billion investment in housing, taking the total package to $43 billion — which Labor claims is the largest housing investment in Australia's modern history.

From January 2026, following industry consultation, every first home buyer will be eligible to purchase a home with just a 5 per cent deposit, while the government guarantees up to 15 per cent of the loan value — eliminating the need for LMI, which currently costs the average buyer around $23,000.

The government will also raise the price caps for properties eligible under the scheme to ensure it benefits a broader range of first home buyers, especially in areas like Sydney and Melbourne where average dwelling prices are much higher.

The scheme will not have income caps or a limit on the number of places available.

Sydneysiders will be able to buy their first property for as much as $1.5 million with a $75,000 deposit, while a Queenslander could purchase an $850,000 home with a $42,500 deposit.

Capital city House price limit for scheme
Sydney $1,500,000
Melbourne $950,000
Brisbane $1,000,000
Perth $850,000
Adelaide $900,000
Hobart $700,000
Canberra $1,000,000
Darwin $600,000

Regional centres within a state will have the same price limits as the state capital.

For example, Newcastle would have a $1.5 million limit to match Sydney.

Other regional areas would have smaller limits, different for each state or territory tied to the average price for housing there.

Meanwhile, the government says it will commence construction on 100,000 homes — reserved solely for first home buyers — in 2026-27, with owners able to move in from the following financial year.

The rollout will be a joint effort in partnership with states, developers, and community housing providers.

Housing Minister Clare O'Neil described the reforms as "nationally game-changing" and told the ABC that deals would be struck with the states on day one of a re-elected Albanese government to set a new course for housing.

"We've got a housing crisis in the country that's been a generation in the making," she said.

"In our first term we laid really important foundations to address the housing needs of Australians, in our second we want to go further, much further."

As the campaign trail heats up, Labor's housing policy marks one of the most significant plays yet in a contest likely to be decided by cost-of-living pressures, generational opportunity, and economic confidence.

And the choice of Perth as the backdrop for this signature policy announcement is no coincidence.

Western Australia delivered a 10.5 per cent swing to Labor in 2022, helping the party secure four additional seats in the state.

Mr Albanese hopes to repeat his success and signal the government's determination to retain — and potentially expand — its foothold there.

Source

It's good to see measures tailored specifically to first home buyers, but I question how many of them are in a position to pay off a $1.5 million mortgage with repayments of approx $2500/week, even if they are able to save (or are gifted) the $75K deposit.

People should not be encouraged to get in above their heads, and the main problem remains that house prices are simply way too high compared to median income. Someone also needs to remind the PM that not all first home buyers are "young" people.

$10 billion for 100,000 houses is $100,000 per home. Is the public housing going to be stacked shipping containers?

If the housing crisis has been a generation in the making, then of course there would be two generations needing support.

If international students are flooding the private rental market, is student accommodation suitable for the single older women who need secure housing?

[gnrc_louis]

Labor proposes to let all first home buyers purchase with 5 per cent deposit

Olivia Caisley

Prime Minister Anthony Albanese is set to unveil a plan to allow all Australians looking to climb onto the property ladder to buy their their first home with a 5 per cent deposit, avoiding lenders mortgage insurance (LMI).

The proposed expansion of an existing, income-capped program would instead be made universally available for a wider range of homes by a re-elected Albanese government.

Under the landmark housing package to be unveiled on Sunday, the federal government would also put $10 billion towards building up to 100,000 homes exclusively for first homebuyers.

The plan is part of a bid to tackle Australia's housing affordability and court young voters ahead of the May 3 federal poll.

The 5 per cent deposit guarantee would allow thousands of Australians to sidestep the traditional 20 per cent hurdle, potentially slashing years off the time it takes to save for a home.

"When a young person saves a 5 per cent deposit, my government will guarantee the rest with their bank," Mr Albanese said.

"This will help people buy their first home faster, without paying the burden of Lenders Mortgage Insurance."

Mortgage and rental stress are shaping up as big issues in federal election campaign.

Some 50,000 Australians a year already access the income-capped version of the scheme, but the government expects that number will grow to nearly 80,000 after the expansion.

The commitment builds on the Albanese Government's existing $33 billion investment in housing, taking the total package to $43 billion — which Labor claims is the largest housing investment in Australia's modern history.

From January 2026, following industry consultation, every first home buyer will be eligible to purchase a home with just a 5 per cent deposit, while the government guarantees up to 15 per cent of the loan value — eliminating the need for LMI, which currently costs the average buyer around $23,000.

The government will also raise the price caps for properties eligible under the scheme to ensure it benefits a broader range of first home buyers, especially in areas like Sydney and Melbourne where average dwelling prices are much higher.

The scheme will not have income caps or a limit on the number of places available.

Sydneysiders will be able to buy their first property for as much as $1.5 million with a $75,000 deposit, while a Queenslander could purchase an $850,000 home with a $42,500 deposit.

Capital city House price limit for scheme
Sydney $1,500,000
Melbourne $950,000
Brisbane $1,000,000
Perth $850,000
Adelaide $900,000
Hobart $700,000
Canberra $1,000,000
Darwin $600,000

Regional centres within a state will have the same price limits as the state capital.

For example, Newcastle would have a $1.5 million limit to match Sydney.

Other regional areas would have smaller limits, different for each state or territory tied to the average price for housing there.

Meanwhile, the government says it will commence construction on 100,000 homes — reserved solely for first home buyers — in 2026-27, with owners able to move in from the following financial year.

The rollout will be a joint effort in partnership with states, developers, and community housing providers.

Housing Minister Clare O'Neil described the reforms as "nationally game-changing" and told the ABC that deals would be struck with the states on day one of a re-elected Albanese government to set a new course for housing.

"We've got a housing crisis in the country that's been a generation in the making," she said.

"In our first term we laid really important foundations to address the housing needs of Australians, in our second we want to go further, much further."

As the campaign trail heats up, Labor's housing policy marks one of the most significant plays yet in a contest likely to be decided by cost-of-living pressures, generational opportunity, and economic confidence.

And the choice of Perth as the backdrop for this signature policy announcement is no coincidence.

Western Australia delivered a 10.5 per cent swing to Labor in 2022, helping the party secure four additional seats in the state.

Mr Albanese hopes to repeat his success and signal the government's determination to retain — and potentially expand — its foothold there.

Source

It's good to see measures tailored specifically to first home buyers, but I question how many of them are in a position to pay off a $1.5 million mortgage with repayments of approx $2500/week, even if they are able to save (or are gifted) the $75K deposit.

People should not be encouraged to get in above their heads, and the main problem remains that house prices are simply way too high compared to median income. Someone also needs to remind the PM that not all first home buyers are "young" people.

$10 billion for 100,000 houses is $100,000 per home. Is the public housing going to be stacked shipping containers?

If the housing crisis has been a generation in the making, then of course there would be two generations needing support.

If international students are flooding the private rental market, is student accommodation suitable for the single older women who need secure housing?

The rental crisis really began during Covid, when renters decided that rather than live with three other people in a large share-house, they wanted to live alone or with one other person. The majority of international students still live in student housing rather than rentals. Airbnbs are also a driver of rental shortages in some areas.

[Bobski]

And now we have this from the LNP. Another measure that would fuel even more competition for the small number of houses available, drive prices up even higher, and it cuts out after 5 years, leaving people on the scheme careering towards a massive financial cliff.

Neither major party is willing to do anything that would piss off the investor class - of which most are members themselves - esp the LNP who rely on older voters. The only policies we are being offered are those which encourage people to get into way too much debt.

Sigh.

Coalition Leader Peter Dutton will unveil a plan to allow first-time buyers of newly built homes to be able to deduct mortgage payments from income taxes if he is elected on May 3.

The policy would mean a family on average incomes would be around $11,000 a year better off — or $55,000 over five years.

Mr Dutton is expected to announce the policy at the Coalition's campaign launch on Sunday.

Peter Dutton will super-charge his fight against Labor over housing policy with a promise that first time buyers of newly built homes would be able to deduct mortgage payments from income taxes under a Coalition government.

In what would be a controversial but historic structural change to the nation's tax system, the policy would mean a family on average incomes would be about $11,000 a year better off — or $55,000 over five years.

The ABC understands the "first home buyers mortgage deduction scheme" would be limited to five years and the first $650,000 of a mortgage.

It would also be means-tested at $175,000 for singles and $250,000 for couples.

The ABC has learned that Mr Dutton is preparing to announce the policy at the Coalition's campaign launch in western Sydney on Sunday, just hours before Prime Minister Anthony Albanese in Perth showcases Labor's plans to enable first home buyers to enter the market with a 5 per cent deposit, avoiding lenders mortgage insurance.

Coalition housing spokesperson Michael Sukkar told the ABC that the Coalition's housing policy would demonstrate that Labor's offering on housing is a "lazy Clayton's policy".

He said the Coalition, by contrast, would offer "a massive structural change to our tax system to provide a huge tax concession to encourage first home buyers, to give them the firepower in the first place".

The Coalition is expected to insist that its policy would help boost supply of housing by being linked to new construction.

"In Australia you only get a new house built if someone is prepared to commit," he said.

"The way you unlock supply is encourage someone to pre-commit to a new dwelling."

While of huge up-front benefit to first home buyers, the Coalition's scheme is likely to receive heavy scrutiny from economists and tax experts.

In most countries where mortgage interest payments are tax deductible, governments tend to claim a substantial portion of the capital gain of people's homes when they sell.

The Coalition's plan sets up a direct contest with Labor, which will also spruik its housing policy at the campaign launch in Perth today.

Labor has vowed to allow all first home buyers to purchase a property with a 5 per cent deposit, avoiding the need for lenders' mortgage insurance.

Some 50,000 Australians a year already access the income-capped version of the scheme, but the government expects that number will grow to nearly 80,000 after the expansion.

The scheme will not have income caps or a limit on the number of places available.

The government will also pledge $10 billion to go towards building 100,000 properties over eight years exclusively for first home buyers.

"The housing that is being built today is not affordable for most young people who are entering the market and that's the real problem," Housing Minister Clare O'Neil told Insiders.

"What we are doing is supplementing supply at the affordable end of the market and that's where it is really needed.

"Our government will roll up its sleeves and get involved, that is the only answer for the housing crisis confronting our country."

Ms O'Neil said it was too early for her to comment on the Coalition's policy in detail, labelling it "public policy on the run for a campaign on the slide".

"One thing I will say is we have to help young people into home ownership and I'm not sure how this policy is going to assist us to do that," she said.

"The difficulty they are facing is saving a deposit and that is why 5 per cent deposit for first home owners across the country is such a game-changer for young people."

Source

[Bobski]

ALP-LNP housing debate at the NPC today.

[rev]

And things become even more ridiculously unaffordable..

How are either of the major parties plans going to fix this?

National house prices rise as Adelaide hits $1 million, Sydney on the cusp of $1.7 million

Adelaide’s median house price has soared past $1 million for the first time, Sydney is tipped to break $1.7 million within weeks, and Melbourne is now in recovery, new data reveals, dashing first-home buyer hopes of Australian house price falls in 2025.

Set against the backdrop of a federal election in which housing affordability has become a key battleground for each political party, the latest Domain House Price Report lays bare the state of the market, showing slower markets do not always equal more affordable markets.

Five capital cities now have a median house price of $1 million or more: Adelaide, Brisbane, Canberra, Melbourne, and Sydney.

Code: Select all

Capital city median house prices
Capital City	Mar-25	Mar-24	Quarterly change	Annual change
Sydney	$1,691,731	$1,626,551	1.7%	4.0%
Melbourne	$1,035,887	$1,050,043	0.3%	-1.3%
Brisbane	$1,022,026	$940,145	-0.3%	8.7%
Adelaide	$1,000,202	$892,399	1.1%	12.1%
Canberra	$1,049,067	$1,073,952	-1.3%	-2.3%
Perth	$917,706	$804,167	0.1%	14.1%
Hobart	$710,077	$692,200	0.0%	2.6%
Darwin	$659,172	–	2.4%	–
Combined capitals	$1,178,668	$1,123,798	0.7%	4.9%

But Sydney is in a league of its own. Only months ago prices were falling but they have bounced back and its median house price is now on the verge of passing $1.7 million. Just $8000 is all that stands between Sydney and a new record.

Only Perth, Hobart and Darwin remain under $1 million, although Perth is on track to join the $1 million club by the end of 2025.

Brisbane house prices fell for the first time in years but only by $3300. Its unit market continues to break records, gaining nearly $92,000 in the past 12 months alone.

Code: Select all

Capital city median unit prices
Capital City	Mar-25	Mar-24	Quarterly change	Annual change
Sydney	$823,467	$808,617	0.4%	1.8%
Melbourne	$550,022	$570,765	-3.2%	-3.6%
Brisbane	$657,645	$566,099	2.1%	16.2%
Adelaide	$557,957	$488,288	0.1%	14.3%
Canberra	$531,784	$594,621	-5.7%	-10.6%
Perth	$508,367	$426,846	-0.9%	19.1%
Hobart	$555,609	$551,171	6.6%	0.8%
Darwin	$352,441	$365,479	-0.1%	-3.6%
Combined capitals	$670,205	$649,222	-0.4%	3.2%

Adelaide is Australia’s silent achiever of the Australian property market, with the data revealing its median house price has grown by a whopping 84 per cent over five years.

Adelaide’s median house price soared from $543,145 to $1,000,202 – a gain of $457,057.

Canberra’s market declined again as it struggles to lock in any sustained recovery, yet its median house price remains second only to Sydney’s.

But the gap between the two cities is huge; the $642,664 difference is enough for a buyer to secure a unit in Melbourne, where the median price is $550,022.

House price parity between Canberra, Melbourne, Brisbane and Adelaide was recorded for the first time.

Of the four capitals – all of which recorded a median house price above $1 million – the difference between the highest (Canberra) and lowest (Adelaide) was just under $50,000.

Adelaide joining the million dollar club for the first time is a monumental milestone, but also creates a greater hurdle for first-home buyers, says Domain chief of research and economics Dr Nicola Powell.

“It is such a line in the sand in terms of a change in the landscape for Adelaide’s housing market,” says Powell.

“That is life-changing for those that have owned property during that period of time, and I think it’s disheartening for those who are yet to enter the housing market in Adelaide.”

To better understand Adelaide tipping into the $1 million territory, Powell reflects on the capital city’s property patterns over a five-year period, in which the median house price has almost doubled.

Five years ago, Adelaide’s median house price of $543,145 was less than half of Sydney’s $1.161 million median. Adelaide’s median was also comparatively more affordable than Melbourne’s ($910,658) and Canberra’s ($779,437).

“When you rewind to five years ago, that value for money was attractive,” says Powell.

“Adelaide was deemed to be much more affordable [compared to Sydney, Melbourne and Canberra], which initially was probably a spark in terms of its value and what you could get there.”

Beyond affordability, Adelaide’s housing market was also supercharged by other contributing factors, including the pandemic, a low cash rate, and a boost in remote working, which influenced buyer demand, adds Powell.

“Adelaide, out of all of the markets over the past five years, the FOMO has been wild … it’s been a really strong fear of missing out,” says Powell.

More recently, the interplay between “for rent” and “for sale” has also contributed to Adelaide’s house prices hitting a $1 million median.

“Adelaide has consistently had the tightest capital city rental market in Australia,” says Powell.

“It still has a very low vacancy rate at 0.4 per cent, so it has that flow-on effect because what people want to do is really try and get out of that rental market and own their own home quicker, particularly when prices are running away.”

Adelaide’s record-breaking median house price is somewhat easier to digest when compared to Sydney’s $1,691,731.

Recording two consecutive quarters of growth, Sydney’s house prices appear to be picking up speed.

“Sydney has almost become the untouchable capital city; it has really broken away in terms of its price point compared to the other cities,” says Powell.

“I think many Australians would just shudder at the fact Sydney has an almost $1.7 million median.”

Sydney’s median house price was $1.161 million five years ago, according to Domain.

“This is now morphing the conversation to ‘when will the house price in Sydney break that $2 million mark?’ because it continues to rise,” adds Powell.

While Sydney’s price growth momentum can fluctuate due to stretched affordability, Powell says buyer inquiry is 10 per cent higher than this time last year.

Sydney’s soaring prices are most likely due to the city being geographically landlocked.

“That in itself adds such a premium to the land,” says Powell.

“It’s landlocked in terms of its ocean on one side, Blue Mountains, and national parks, which contains its ability to sprawl, whereas Melbourne can just continue to sprawl.”

Over the March quarter, Melbourne yielded a 0.3 per cent gain ($3417) to its $1,035,887 median house price.

Five years ago, Melbourne’s house prices were the runner-up to Sydney’s. At the time, the gap between Melbourne house prices and Canberra in third spot was approximately $130,000.

Today’s data tells a different story. Melbourne falls behind Canberra and is now the third-most expensive capital city in Australia, according to Domain.

“What we’ve got now is a Melbourne housing market that is undervalued,” says Powell.

However, in the long run, this “undervalued perception” will work in Melbourne’s favour.

“That perception of undervalued nature drives this perception that you’re going to get a bit of a bargain, and that value for money that is built up over time will activate buyers,” says Powell.

Powell adds that Melbourne house prices are also susceptible to rate cuts and the market is likely to overperform with more rate cuts on the horizon.

“Melbourne eventually will overperform, I don’t think it’s going to be this year, but it might be once we start to see more rate cuts coming through,” she says.

Melbourne’s median house price ($1.035 million) is almost on par with Canberra ($1.049 million), Brisbane ($1.022 million) and Adelaide ($1 million) – the largest margin between all four capital cities is just under $50,000.

Nationally, Darwin recorded the highest quarterly change with a 2.4 per cent increase to its median house price of $659,172. The lowest fall across the capital cities was Canberra with a 1.3 per cent dip to its median house price – a loss of $13,519.

https://www.domain.com.au/news/national ... n-1371096/

[[Shuz]]

84% in five years!?

I can only hope that enough independents get voted in, forcing minority government, so that we may see any meaningful change to housing policy in this country in the next three years.

Voting in majority government for either party will only make the housing crisis worse based on the current policy offerings and settings.

[Bobski]

And things become even more ridiculously unaffordable..

How are either of the major parties plans going to fix this?

They clearly don't intend to, rev. And with five rate cuts predicted this year, prices are only going to go higher. Neither of the housing "plans" on the table this election will improve the outlook for non-homeowners, and will most likely either make things worse (ALP) or a lot worse (LNP).

I agree with [Shuz] the only hope for brakes to be applied to prices in the next (presumably ALP) term is through minority. If ALP gets back in with a majority, forget it. Clare O'Neil bangs on about wanting to see "sustainable growth". On what planet is any of this sustainable???

We need a government with balls, willing to listen to experts and do things which may be unpopular in the short-term, but will be seen as transformational by the history books. A Chalmers-led minority government might achieve something. An Albanese-led majority won't, IMO.

[And I'm not even going to entertain what would happen if the Libs got back in because 1. They won't; and 2. Dutton's plan to let people take money out of their Super to put straight into the pockets of vendors is such a monumentally bad policy it doesn't deserve serious contemplation].

[SRW]

And things become even more ridiculously unaffordable..

How are either of the major parties plans going to fix this?

They clearly don't intend to, rev. And with five rate cuts predicted this year, prices are only going to go higher. Neither of the housing "plans" on the table this election will improve the outlook for non-homeowners, and will most likely either make things worse (ALP) or a lot worse (LNP).

I agree with [Shuz] the only hope for brakes to be applied to prices in the next (presumably ALP) term is through minority. If ALP gets back in with a majority, forget it. Clare O'Neil bangs on about wanting to see "sustainable growth". On what planet is any of this sustainable???

We need a government with balls, willing to listen to experts and do things which may be unpopular in the short-term, but will be seen as transformational by the history books. A Chalmers-led minority government might achieve something. An Albanese-led majority won't, IMO.

[And I'm not even going to entertain what would happen if the Libs got back in because 1. They won't; and 2. Dutton's plan to let people take money out of their Super to put straight into the pockets of vendors is such a monumentally bad policy it doesn't deserve serious contemplation].

Sustainable growth in an affordability crisis is a nonsense — it's unsustainable! I saw someone calculate (for Sydney's median) that even if prices grew at only 2% pa and incomes outpaced this at the current 3%, housing would remain unaffordable until sometime in the 2100s.

The only genuinely helpful idea in this campaign is building homes specifically for first time buyers, although the numbers proposed are inadequate.

[Bobski]

Did anyone else watch that 4-part series about housing on the ABC last year? It's on iView and well worth a watch (for the outfits if nothing else )

https://iview.abc.net.au/show/homes-tha ... H102C00GN1

The changes in the way housing has been viewed and facilitated over the years is wild. Bold policies have worked in the past. We need some, NOW.

Edit: Here's a clip from episode 1, the late 1940s/early 50s, when architecturally-designed DIY houses could be ordered from a Myer catalogue

[rev]

Did anyone else watch that 4-part series about housing on the ABC last year? It's on iView and well worth a watch (for the outfits if nothing else )

https://iview.abc.net.au/show/homes-tha ... H102C00GN1

The changes in the way housing has been viewed and facilitated over the years is wild. Bold policies have worked in the past. We need some, NOW.

Edit: Here's a clip from episode 1, the late 1940s/early 50s, when architecturally-designed DIY houses could be ordered from a Myer catalogue

With all the red tape and bureaucracy I doubt catalogue ordered DIY kit homes would be viable in todays Australia, sadly for many.
And the way things go in these days, something that might start out as affordable will probably see prices explode within a few years.

[Bobski]

If anyone else is still on the hellsite formerly known as Twitter, this guy posts a lot about sustainable high rise living and particularly social housing projects from around the world.

Projects such as these would need to be varied to suit Australian conditions/material availability of course, but it just goes to show what can be achieved, where there is the will.

Source: Philip Oldfield https://x.com/SustainableTall

[Bobski]

All going well then

Source

[[Shuz]]

[Jaymz]

Throw into the mix the proposed 5% deposit scheme and falling interest rates, this is only going to get worse before it gets better