Housing Affordability, what’s our new PM’s stance?
On 15 September 2015 Malcolm Turnbull was sworn in as Prime Minister, signalling a new era for the Liberal leadership and this may lead to a different approach to the issue of housing affordability. There could also be a fundamental shift in the way the government addresses economic issues, with the Turnbull government set to be “a thoroughly Liberal government committed to freedom, the individual and the market.” At the heart of Turnbull’s economic ethos is the concept of a ‘free market’, encouraging competition wherever possible. Despite low interest rates, the rate of home ownership for those under 65 is declining, along with wages growth. With the median house price in Sydney now at $1 million, housing affordability is an issue felt by many Australians, particularly those in urban areas. This issue is not new ground for Morrison. Another area that impacts the demand side is taxation policy and, in particular, negative gearing and capital gains tax. Like this: Like Loading...
Related: Mortgage Loans