Coalition housing spokesman says first home buyer house prices should fall
The federal opposition's housing spokesman, Andrew Bragg, advocates for a reduction in 'entry-level' house prices, a stance that contrasts with his party's previous position. He suggests that politicians should be limited to owning one home, addressing potential conflicts of interest.
His comments come in response to recent data indicating a rapid increase in national house prices, particularly in the 'lower and middle' market segments. Bragg attributes this to the Labor government's 5% home deposit scheme, which he believes has led to an oversupply of housing and rising prices.
However, the government responds by pointing to Treasury advice suggesting a minor impact on prices, emphasizing supply and interest rates as the primary factors. Housing Minister Clare O'Neil acknowledges the issue of rising prices but refutes the idea that the new policy is solely responsible.
Bragg's position is a shift from the Coalition's stance, and he argues that a decrease in 'entry-level' home prices would improve affordability. Yet, experts caution that this could negatively impact those already in the market. The government's expanded scheme aims to help renters buy, shaving years off the savings period, but critics argue it may inadvertently benefit politicians and others in public office.
The debate highlights the complex nature of housing policy, with experts suggesting that income growth and increased supply are crucial for addressing affordability. Bragg's proposal to limit politicians' home ownership is seen as a fair measure to prevent conflicts of interest, but it remains a subject of discussion and potential controversy.
