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 annual. 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 40 years land tax, review the current retiree asset tests and increase 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.