Our Brave Leader has announced his grand plan to fix housing affordability without dropping the home-owners into a negative equity hole.
Key points are:
— new house and land packages priced between $200,000 and $300,000;
— regular englobo land sales;
— over-the-counter sales of affordable housing blocks;
— a major expansion of community housing that will deliver an additional 480 affordable dwellings over five years;
— an initiative to increase the supply of private rental dwellings by 200- 400 homes in the first instance;
— land rental and shared equity schemes, including for public and community housing tenants;
— targeted stamp duty concessions.
He’s created a whole new website (intriguingly not in the act.gov.au domain, someone in IntACT not trusted?) http://www.actaffordablehousing.com.au/ to sell the plan.
There’s also a whole media kit’s worth of releases on:
— a land rent scheme (on land that’s only leasehold in the first place),
— more affordable housing land (slums),
— PPP rental properties (industrialised slums),
— shared equity plans (giving the banks the lion’s share of your capital gains), and
— stamp duty deferrals (to let you over-commit yourself more completely).
It’s going to be a wild ride for the real estate market when all of this hits the fan.
UPDATED: The Greens’ Deb Foskey is broadly supportive but would like more public housing in the plan.
Bill Stefaniak is grudgingly supportive.