Morrison-Joyce Government to stop work on housing affordability

A Morrison-Joyce Government report has recommended stopping important research into housing affordability at the same time the housing crisis is worsening in Australia.

It’s harder to buy than ever before, it’s harder to rent than ever before and there are more homeless Australians than ever before.

The cost to buy a home has jumped by 21.9 per cent in the last 12 months.

Now, as the housing crisis worsens, a review into the National Housing Finance Investment Corporation (NHFIC) recommends the Morrison-Joyce Government stops the dedicated housing agency from doing important work to address housing affordability.

The long-awaited review into NHFIC says “while NHFIC’s national analysis of housing supply and demand fills a definite gap and should continue, the focus of its remaining research efforts should be narrowed”.

We have a housing crisis in this country and the Morrison-Joyce Government have closed their eyes and put their fingers in their ears.

Ripping away credible, independent research about housing affordability completely contradicts submissions from several stakeholders which urged the Government to expand NHFIC’s research functions to help address the housing crisis in Australia.

“Moving forward we see the potential for NHFIC adding further value to the sector and building additional capacity within the sector in areas such as expanding the research activities”
Group submission from CHP Chairs responsible for more than 80,000 people in social and affordable housing

“NHFIC’s housing research function and publications… are important to assist the sector and Government to look beyond short-term property cycles and take a longer-term view of housing affordability trends.”
Bridge Housing

“UDIA recommends NHFIC commences a robust research agenda to improve the quality of data on housing market dynamics…”
Urban Development Institute of Australia

“NHFIC could build its research capacity.”
– National Shelter

It also contradicts the view of NHFIC’s Chief Executive Officer, Mr Nathan Dal Bon, who last night told Senate Estimates “having solid, objective research is always helpful in terms of informing policy consideration” and that “existing directions from Government in terms of housing supply, demand and affordability do give us considerable scope in terms of looking at a range of issues.“

There is no easy fix to housing affordability, but it does require leadership from the Federal Government.

If Labor wins the next election, we will act where this Government won’t and one of the most obvious things we can do is build more housing.

That’s what Labor’s Housing Australia Future Fund will do; build 30,000 social and affordable homes right across the country.

After eight long years of Liberal-National Government, only an Albanese Labor Government will make it easier to buy, easier to rent and help put a roof over the head of more homeless Aussies.