Responding to housing announcements by the NSW Labor opposition, The Greens NSW have called for a bold, long-term vision to address the housing crisis in this state - not just more tinkering around the edges.
Greens spokesperson for Housing and Renters Jenny Leong MP said:
“NSW Labor’s announcement today is so far from the massive reforms we need to address housing affordability - with the flagship policy seemingly just a continuation of an interim measure announced by former Premier Berejiklian during the early stages of the COVID pandemic.
“This is far from a significant reform - it seems from reports that there is nothing new here, which is really disappointing if this is all NSW Labor has got to offer to address the housing affordability crisis.
“They have clearly not been listening to local communities who are screaming out for action.
“Simply increasing the threshold on an existing policy that has been in place for decades that exempts first home owners from paying stamp duty might provide some immediate help for some people to get into the property market, but it’s really nothing more than tinkering at the edges.
“When it comes to these election announcements, the devil is always in the detail - what would happen to those first home owners who are eligible for this exemption who then move out making it an investment property?
“The last thing we need is more loopholes for landlords - or want-to-be landlords- which will further disadvantage renters.
“The millions of renters in NSW know just how bad things have become and for so many owning their own home is out of reach.
“We absolutely need to be having a debate about housing affordability but the terms of that debate need to be much bolder.
“The Greens are committed to pushing the next govt to deliver on a massive investment in public, social and affordable housing, immediately freezing rents and end unfair no grounds evictions, and making extremely wealthy property owners and big investors pay.
Greens spokesperson for Treasury, Finance & Economy Abigail Boyd said:
“The Greens are the only party to treat housing affordability in this State with the seriousness it deserves. We have had the experience of implementing a broad-based land tax to replace stamp duty as part of the ACT Labor-Greens Government.
“We know that it takes long-term vision and a commitment to detailed intelligent policy-making to get the reform right.
“During the inquiry into the Perrottet land tax bill, we heard from economists and other experts that first home buyer incentive schemes have no beneficial impact on overall housing affordability and in fact can result in increased housing prices overall.
“The evidence was overwhelming that the best intervention a government can make is by building public housing.
“Labor knows this, but instead they want to throw away $722 million on a scheme that has no hope of assisting those doing it tough across NSW, all just to try and one-up the Liberals,” Abigail said.
- Currently new and existing homes under $650,000 don’t pay transfer duty: https://www.revenue.nsw.gov.au/grants-schemes/first-home-buyer/assistance-scheme
- During the pandemic, Berejiklian announced temporary increase to $800,000 - https://www.domain.com.au/news/stamp-duty-for-first-home-buyers-to-be-temporarily-waived-on-new-properties-worth-up-to-800000-972417/