HOUSING AFFORDABILITY has only deteriorated further since 2019 …
WITH more Australians now renting crushed by low wages, even more of Our People are increasingly struggling to pay rising rents!
In February 2022 Scott Morrison said:
“house prices are rising”, bluntly adding “that’s how the market works”, during an address to the building and construction industry.
Isn’t it time we were equally blunt? On 21 May 2022?
Tonight there was a report on the ABC NEWS that neither major party is addressing rising rents!
THIS was not of Labor’s making! If LABOR wins the election they will be inheriting this Liberal mess!
The Liberals have been in power for nearly a decade!
Remember ‘The NETWORKER’ wrote the policy for the developer lobby group, the PROPERTY COUNCIL OF AUSTRALIA before it entered politics … and obviously this very strong connection maintains …
BECAUSE Singapore, Malaysia and across Asia these foreign buyers are now picking up from where China left off …
SO why didn’t the Morrison Government in the interests of its Constituents then disallow the Foreign Investment Review Board (FIRB) Ruling that allowed developers to sell 100 per cent of ‘new homes’ to foreign buyers?
“Currently houses and apartments recorded an average 6.8% and 21.9% year-on-year capital growth, respectively.” Why wouldn’t Singaporeans be tempted for this capital growth, and even more benefits?
Obviously developers all the while called for increasing the SUPPLY because they were unable to keep up with the OVERSEAS DEMAND!
AND why did the ScOmO Government exempt (exclude) the Real Estate Gatekeepers (Real Estate Agents, Lawyers and Accountants) from the second tranche of the ANTI-MONEY LAUNDERING LAWS? …. In October 2018?? And to this day maintains this exemption?
With so much Black Money awash in our Real Estate Market – that too contributed to the escalation of house prices … with these overseas buyers keen to gain a Permanent Resident Visa from home purchase … how many have been outbidding Australian buyers with black cash … ?
And with a flourishing short-term holiday rental market swallowing up homes for long term rental … we have a rental crisis apart from a housing affordability crisis!
WHY isn’t the NetWorker stopping this with more Australians sleeping in their cars … having to wait ten years for Public Housing, as others resort to sleeping rough in parks or railway station tunnels!
Why Singaporean investors have their sights on the Austrailian property market