The Bloomberg Australia Podcast Can Australia’s Housing Crisis Be Fixed?
Apr 29, 2025
Brendan Coates, Housing and Economic Security Program Director at the Grattan Institute, shares his insights on Australia's escalating housing crisis. He discusses the political pledges from Prime Minister Anthony Albanese and opposition leader Peter Dutton regarding affordability. Brendan highlights the impact of restrictive zoning laws in Sydney and Melbourne and emphasizes the importance of addressing renters' needs amidst initiatives for first-home buyers. He also proposes crucial policy recommendations that could alleviate housing inequality.
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Housing Crisis Root Cause
- Australia's housing crisis is driven by insufficient construction to meet population growth.
- House prices and rents have surged, with prices rising to 7-10 times average incomes in major cities.
First-Home Buyer Focus Risks
- Both major parties focus on first-home buyers by easing deposit or mortgage burdens.
- These demand-side policies risk increasing house prices without significantly addressing supply.
Federal-State Housing Partnership
- Federal plans include billions to partner with states on building homes and funding local infrastructure.
- Success depends heavily on state-level actions, such as land use planning reforms.