Developers' lies on land supply now exposed
Friday, 19 October 2007

The development lobby has been campaigning stridently for the release of more land for residential estates, claiming it's the key to solving the affordability problem.

The Property Council of Australia, the Housing Industry Association, the Urban Development Institute of Australia and others with a vested interest have been relentless all year about the need to release more land to allow affordable housing development.

I've been saying all along it was a lie - that land supply has little to do with the affordability equation and that the development lobby knows it.

Now we have proof - Opposition Leader Kevin Rudd has announced that a Federal Labor Government will make surplus Commonwealth land available to developers as part of its solution to the affordability problem.

The response from the development lobby: we'll gladly take any land you offer us, but it won't solve the affordability problem.

The developers are now saying: more land does not equal cheaper housing.

In other words, they've been lying to us. It's

 
Home affordability at record low
Friday, 19 October 2007
NINE straight interest rate rises and sky high house prices have pushed housing affordability to its lowest level on record and put borrowers under further stress.
 
Loan payments set to soar
Thursday, 18 October 2007
RAMPANT economic growth might force two mortgage interest rate rises within six months, pushing up mortgage repayments, economists said yesterday.
 
US housing downturn brings long-term pain
Wednesday, 17 October 2007
A HOUSING downturn would hurt the US economy for some time, the US treasury secretary said overnight as he called for assistance to struggling homeowners and new mortgage regulations.
 
Property industry rejects ALP plan
Wednesday, 17 October 2007
HOUSING experts were yesterday extremely sceptical about Labor's plan to ease housing affordability by releasing surplus commonwealth land.
 
More interest rate hikes, unrest
Wednesday, 17 October 2007
MACQUARIE Bank chief executive Allan Moss has tipped more interest rate rises and warned there the risk of a setback in global markets due to the worldwide credit squeeze is real.
 
Safety switches mandatory in rental properties
Saturday, 13 October 2007
From 29 February next year, all residential rental properties where a residential tenancy agreement is in place will be legally required to have safety switches installed.
 
Foreign cash pumped into property
Thursday, 11 October 2007
OVERSEAS investors are pouring their spare cash into the Sunshine State, spending more than $1 billion on Queensland real estate last year.
 
Prices up, affordability down
Thursday, 11 October 2007
HOUSE prices in Melbourne, Brisbane and Adelaide rose sharply in the third quarter of 2007, raising affordability issues for these cities, Westpac says.
 
House prices defy rate rises
Thursday, 11 October 2007
AUSTRALIANS love their patch of land and as money pours into the real-estate market, house prices are expected to keep on rising despite the relentless rise of interest rates.
 
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