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Ever less affordable housing

By johnboy - 17 August 2009 9

The Liberals’ Zed Seselja is jumping up and down about the HIA and Commonwealth Bank’s latest Housing Affordability Report which apparently rates the ACT as the least affordable jurisdiction (lacking as we do a rural hinterland):

    “Housing affordability has dropped 2.9% in the June 2009 quarter with first home buyers in the ACT having the highest loan repayments than any other region in the country. ($2,330 per month)

    “For the last two quarters the ACT has been the least affordable jurisdiction for first home buyers. Only Sydney and the mining-rich areas of Western Australia even come close to Canberra’s un-affordability.

    “Despite all the trumpeting of the Chief Minister, we continue to see first home buyers struggle to enter the market. This is as a result of flawed policies over many years including an unresponsive land release program, a flawed planning system, very high taxes and a deliberate stifling of competition.

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9 Responses to
Ever less affordable housing
poptop 1:46 pm 18 Aug 09

=-D I’ll have you know that shipping containers are clled ‘Dongas’ in the north and they are a well accepted form of housing.

I think ACTPLA’s opinions on good design principles are a major barrier to excellence in higher density more sustaineble development in this town. In my opinion, it would be easier for an accused murderer to walk free than for a developer to be allowed to build an innovative, high density, mixed use development in the ACT.

Oh, wait . . .

hax 1:31 pm 18 Aug 09

poptop said :

How to make homes affordable for first home buyers while protecting the assets of existing owners seems to be unduly problematic.

Shipping containers FTW!

Seriously though, the way we go about designing cities/suburbs really needs to change dramatically. We need something a bit more creative than just decreasing land size to fit more concrete and less nature.
Unfortunately the cogs of government turn very slowly when it comes to change, so it may never happen since it would need to be a leap to work.

I’m thinking ‘Vertical Farming’ meets residential, with open park and bushland between sparsely scattered buildings (and electric cars and trains zipping around between) etc..
I think that would be more affordable, and better all round moving into the future without just concreting everything.

If only I could buy a whole greenfield suburb to experiment with! XD

poptop 11:16 am 18 Aug 09

How to make homes affordable for first home buyers while protecting the assets of existing owners seems to be unduly problematic.

Land is not free, so releasing more of it for less carries some risks. Canberra wants to have the services and infrastructure of a city but chokes over the need for serious urban infill and greater residential densities in inner ring suburbs to make it viable.

More greenfield suburban development is just going to make things worse.

Bush Capital? Garden City? Sustainable Canberra? Affordable Canberra. You can’t have all of them.

In Canberra, I’m certain the desire to be able to tell one’s friends one resides in one of the ritzier suburbs would maintain the locational cost inflators, provided your are prepared to pay top dollar for the privilege.

c9 11:00 am 18 Aug 09

But if more is releeased, the government takes the risk that demand does not meet supply and has to build that risk into budgets etc.

AG Canberra 10:47 am 18 Aug 09

if land is cheaper, but more of it is sold – doesn’t that negate any losses?

1000 blocks at $200k or 2000 blocks at $100k is the same revenue isn’t it?

VYBerlinaV8_the_one_ 9:44 am 18 Aug 09

I doubt Zed’s mates care what the price of land is. If they can buy land for building projects cheaper, and sell the finished product a bit cheaper, there’s still profit to be had. Keeping the builders (ie cousins) busy is important, drives up the builder’s profit anyway.

Cheaper land is still the answer, but it means that the ACT will have less income to provide services.

AngryHenry 9:31 am 18 Aug 09

Up The Duffy said :

Strange that Zed would make such a comment? I bet all his mates are just quite happy with the way things are. Last thing they would want is cheaper land values.

+1

I really don’t care what side of politics people are on in this situation. I just wish someone would do something about it.

Actions louder than words and all that.

Up The Duffy 11:56 pm 17 Aug 09

Strange that Zed would make such a comment? I bet all his mates are just quite happy with the way things are. Last thing they would want is cheaper land values.

Addison 8:44 pm 17 Aug 09

need more land released, and at better prices…

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