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Although there are now no simple solutions, the housing crisis in Australia can be traced back to a handful of catastrophic policy choices made by John Howard and recommended by his friends.
A Melbourne council’s plan to increase “vibrancy” by prohibiting apartment developments unless they allow commercial space has been lashed by developers.
Experts have warned that any proposal to let first home buyers access their super needs to be coupled with significant efforts to boost housing supply.
House prices could surge by as much as $86,000 in some Australian capitals if aspiring homebuyers use their superannuation to put down a deposit.
The Super Members Council found the scheme to allow first home buyers to withdraw $50,000 from super for a deposit would push home prices up by 9 per cent.