Premier Berekjiklian is failing to fulfil her pledge to solve housing affordability in Sydney as new figures from the Australian Bureau of Statistics yet again confirms the price of an existing Sydney home exceeds the million-dollar mark.
The figures show the median price of established homes is now the highest on the ABS’ record at $1.02 million dollars- well out of reach of first home buyers.
According to the ABS, residential property prices in Sydney jumped by 2.3 percent in the June quarter while the Australian average was a 1.9 percent increase.
That means Sydney housing prices have soared by almost $100,000 since the last quarter as the Berejiklian Government refuses to advocate for negative gearing reform.
Ms Berejiklian promised that she would solve the housing affordability crisis when she took over as premier at the beginning of the year.
The Foley- Labor Government announced in May that it would tackle the housing affordability crisis head on by expanding its list of policies and establishing mandated housing targets of:
25% of dwellings constructed on government-owned land that is being redeveloped will be designated as Affordable Housing;
15% of dwellings on privately-owned land rezoned for housing will be designated as Affordable Housing
Shadow Treasurer Ryan Park says this is yet another example of the Berejiklian Government failing to come up with any effective policies that will actually help to ease house prices.
Quotes attributable to Shadow Treasurer Ryan Park
“The Berejiklian-Barilaro Government stands idle while the growth in housing prices has outpaced the incomes of people living in Sydney.
““A Foley Labor Government will put in place policies to actually assist first home buyers in this housing affordability crisis.
“The Premier has been all talk and no action after announcing housing affordability would be her number one