Housing affordability not what it used to be, says local MP

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MP says housing affordability needs to improve.
MP Greg Warren has told NSW parliament that housing affordability needs to improve.

Campbelltown MP Greg Warren has used a Private Member’s Statement to take the Baird Government to task over what he says its poor record on housing affordability, particularly for first home buyers.

The First Home Owner Grant plays an important role in the State’s economy and in my electorate of Campbelltown as a vehicle for many young Australians who aspire to the great Australian dream of owning their own home, Mr Warren told parliament.

“As members will be aware, last year the First Home Owner Grant was reviewed and then reduced by one third, from $15,000 to $10,000.

“This amount may not sound substantial to many, but it is. To a first home buyer it could be the difference between being able or unable to buy a home at auction.

“Last year I spoke at length about the consequences that this change will have the on the first home buyers of the Campbelltown region and across NSW.

“I spoke of the dangers of this blow to those trying to enter the property market compared with the quick sugar hit of stamp duty revenue. The consequences are now starting to show.

“In 2011 the percentage of first home buyer loans as a share of total loans was 18 per cent. In the five years the Government has been in office it has plummeted to a record low of 10 per cent.

“This fall shows the consequence of changes to the First Home Owner Grant, and the people of Campbelltown are being affected adversely as they try to enter the housing market.

“The latest data from the Office of State Revenue shows the Campbelltown region is in the top 10 areas that access the First Home Owner Grant.

“Median house prices across Sydney have been increasing steadily for the past few years.

[social_quote duplicate=”no” align=”default”]“In the Campbelltown region the median house price jumped from $400,000 in 2014 to $500,000 in 2015, and recent data indicates it is now closer to $600,000,’’ Mr Warren said.[/social_quote]

At a time when housing prices are increasing in Campbelltown the Government should be doing more to ensure that the Australian dream of owning a home is achievable for first home buyers.

“This is an issue that I feel should transcend partisan politics. I call on colleagues and the Government to deliver solutions to solve the housing crisis for first home buyers.

“It would be a remarkable achievement for all in this place if we were able to ensure that first home buyers in places such as Campbelltown were once again able to achieve the great Australian dream,’’ the Campbelltown MP told parliament.


1 thought on “Housing affordability not what it used to be, says local MP”

  1. Making lot sizes smaller is certainly no answer to housing affordability Eric. if we get council working out fees and charges ( sec 94) based on the number of lots and not area , and the lot size is fixed at a reasonable breathable size where a family can have a real backyard, then developers know going in its a fixed number of lots. They will always work on a “price point ” not “affordability” what I mean is this , once they establish the market price point or what their typical buyer can afford, they then work out how to make that in the smallest most cost effective way, usually making the lot smaller followed by houses closer together with little or no eaves that used to both help ventilate roofs and give sun shading. Alas it has all changed now and there are times i find it difficult to think its improving for all concerned.


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