NSW Labor is calling on the Baird Government to use the reserve week of Parliament to hold a summit to discuss housing affordability with the Opposition, leading economists and industry experts.
As debate mounts about options to address housing affordability, the Opposition is urging the Government to hold a summit to address issues such as housing supply, taxation and first home buyer support.
Sydney’s increasingly unaffordable housing market has made many first home buyers uncertain about their future prospects of home ownership with internal speculation amongst Government Ministers only fueling their angst.
Housing affordability has already begun to transition from an economic crisis to a societal one with soaring property prices placing added pressure on older generations as their adult children move home to save for a home deposit.
The Baird Government’s supply-only strategy has not been working with house prices only hitting increasingly unaffordable levels.
The reserve week of Parliament is traditionally held for any urgent legislation that needs to be debated but is likely to go unused this year unless Labor’s call for a summit is adopted.
Quotes attributable to Shadow Treasurer Ryan Park
“Instead of letting the reserve week of Parliament go to waste, let’s use it to hold a bi-partisan summit to discuss housing affordability with the experts.
“This is an issue that will only get worse unless Government’s sit down with the experts to come up with a solution.
“Land tax, stamp duty and first home buyer grants are all matters that need to be discussed with the experts. Government ministers shooting from the hip does nothing to solve the housing affordability crisis.
“Labor is willing to work with the Government to discuss the options available that will mean home ownership is more than a pipe dream for first home buyers.”