RESIDENTIAL PROPERTY
AS the Greens slapped down a Senate vote on Labor’s $10 billion Housing Australia Future Fund (HAFF), Labor’s budget’s...
The government had been struggling to wrangle the support of the Greens for the fund that it says would spend up to...
But the Greens said it didn’t go far enough, and that it doesn’t guarantee a minimum funding floor each year.
“We’re in a once-in-a-generation housing crisis and the government playing politics with housing in the Senate shows they...
“Our message to Labor is we will pass this bill straight away if you work with the states to get a freeze on rent increases and guarantee...
Their opposition meant Labor, who tried to gag debate and ram through a Senate vote, could not guarantee a vote on...
“We urge the Senate to pass this Bill so that this urgently needed federal funding can begin to flow into affordable housing as...
Budget response
The REIA described Tuesday’s budget as a “Goldilocks budget”. President Hayden Groves said that ...
As part of the budget, the maximum rate of Commonwealth rent assistance (CRA) will be increased by 15% over five years the...
CoreLogic head of research, Eliza Owen said that while the budget gave renters “some level of recognition, low income households in...
“Even for those who qualify for CRA, the increase in payments is modest relative to the broader increase in rents across the...
Rents in the capital cities have surged by a record 11.7% over the past year, according to CoreLogic, as vacancy rates...
“There needs to be more short-term public housing solutions, given how severe migration is coming through. Rents have...
The government is also increasing the National Housing Finance and Investment Corporation’s liability cap by...
“Unfortunately, the budget did miss key opportunities, like setting up a rapid response housing fund, where community housing...
The government will introduce incentives to encourage the supply of housing reducing the withholding tax rate for...
Property Council of Australia CEO Mike Zorbas said the government’s decision to “level the tax playing field” for build-to-rent projects...
“This will allow a welcome new asset class to grow into its full potential across Australia, unlocking up to 150,000 new homes and...
Andrew Purdon, regional director of CBRE’s living sectors – capital markets said that since the Prime Minister’s initial announcement of the tax change...