ANGLICARE RENTAL AFFORDABILITY REPORT SHOWS IMPACT OF TURNBULL INACTION

27 Apr 2017

Anglicare’s Rental Affordability Snapshot report released today makes for sobering reading.

ANGLICARE RENTAL AFFORDABILITY REPORT SHOWS IMPACT OF TURNBULL    INACTION

 

Anglicare’s Rental Affordability Snapshot report released today makes for sobering reading.

 

As well as Anglicare joining the ever-growing number of organisations calling for reform of negative gearing and capital gains tax, the report highlights the devastating impact Australia’s housing affordability crisis is having on low income households in the private rental market.

 For a working couple on the minimum wage with two children, nearly 75 percent of private rental dwellings suitable to the family’s needs are unaffordable.

 For a single person on the minimum wage, the crisis is even starker. Less than three percent of appropriate private rental dwellings are affordable.

 Less than one percent of rental dwellings appropriate for a single adult receiving the Disability Support Pension are affordable.

 With less than two weeks to go before the Turnbull Government delivers a Budget expected to include more savage cuts to income support payments, Anglicare’s report should serve as a wake-up call to a government that has its priorities  wrong.

 While the poorest people in the country are facing a rental affordability crisis of unprecedented proportions, we have a government determined to give $50 billion in tax cuts to the big end of town   and give investors a leg up to buy their sixth, tenth or twentieth house while at the same time flagging more cuts to income support payments for people who are struggling to pay the rent.

 The latest tranche of Labor’s housing affordability policy was announced last week. Labor will:

  • Reform negative gearing and capital gains tax concessions to level the playing field for first home buyers;
  • Increase funding to provide short and medium term accommodation for women and their

    children escaping family and domestic  violence;

  • Establish a bond aggregator to help finance affordable rental   housing;
  • Get better results from the National Affordable Housing Agreement from improved accountability, planning reform, inclusionary zoning for affordable housing and accelerated release of state government owned   land for affordable  housing;
  • Increase charges and penalties for foreign  buyers;
  • Limit direct borrowing by self-managed superannuation funds;
  • Re-establish the National Housing Supply Council and appoint a dedicated Housing Minister, and
  • Facilitate a COAG process for the introduction of uniform vacant property taxes.

 

The biggest barrier to action on housing affordability is the dysfunctional and divided Turnbull government.

 

THURSDAY, 27 APRIL 2017