The Committee for Economic Development of Australia ( CEDA ) has recommended that unless the government introduces new policies , housing affordability will continue to be a problem for 40 years . CEDA said that owning a home will be unattainable for many Australians . The committee has suggested that the government implement several changes : prioritise shelter for disadvantaged citizens , eliminate planning restrictions to favour flats over flats ; fund and plan transport more effectively ; extend renters ’ legal rights , incentivise downsizing , replace stamp duty with an annual land tax , review the current retiree asset tests and introduce capital gains tax .
The Committee for Economic Development of Australia (CEDA) has said that unless the government introduces new policies, housing affordability will continue to be a problem for 40 years. CEDA said that owning a home will be unattainable for many Australians. The committee has suggested that the government make several changes: prioritise shelter for disadvantaged citizens, relax planning restrictions to favour flats over houses; fund and plan transport more effectively; protect renters’ legal rights, incentivise downsizing, replace stamp duty with an annual land tax, review the current retiree asset tests and increase capital gains tax.