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Government slammed for housing affordability probe that proposes no changes

Michael Koziol reports in the Brisbane Times (16.12.16) on a parliamentary inquiry established nearly two years ago to investigate housing affordability which has made no recommendations, drawing strong criticism from the Opposition.

‘With the median Sydney house price eclipsing $1 million and our major cities regularly ranked among the least affordable in the world in which to buy a home, you might think Australia has a housing affordability problem.

‘But not the Turnbull government’s 20-month inquiry into home ownership.

‘A Coalition-dominated parliamentary committee handed down a report on home ownership on Friday which – in a rare departure from the norm – failed to make any recommendations to the government for reform.

‘The committee, chaired by Liberal MP David Coleman, concluded there was no structural problem with housing affordability.

‘”The committee notes that rates of home ownership and investment in housing have remained broadly steady for many decades and that the current price cycle in the housing market across the nation overall is not inconsistent with historical trends,” the report said.

‘That verdict was ridiculed by Grattan Institute chief executive John Daley. “They cannot be serious,” he said. “It’s laughable. There’s clearly a housing affordability problem for younger households”.’

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