NSW Budget 2015: Government doesn’t deliver on affordable housing despite stamp duty windfall

MEDIA RELEASE: NSW Budget: Government doesn’t deliver on affordable housing despite stamp duty windfall

The Greens have criticised the NSW Government for delivering a 2015-16 Budget that benefits from a boom in stamp duty revenue yet fails to do enough to ensure the availability of affordable housing across Sydney and the state.

Jan Barham, Greens NSW Housing spokesperson said:

“The healthy position of the NSW Budget rests on the skyrocketing rate of stamp duty revenue, which is driven by the red hot property market in Sydney and other parts of the state. Even with the forecast ‘moderation’ of residential stamp duty next year, the Government’s income from houses changing hands is expected to rise by another 11.8 percent in the coming year.

“Housing affordability pressures are a continuing challenge for people in New South Wales. We need a whole-of-government approach to fix it, and sadly the Budget doesn’t show the willingness to ensure that people will find affordable, appropriate homes where they want to live and work.

“Although there is some new investment in social housing and boosting general supply, there is little sign of a plan to deliver affordable homes for people on low and moderate incomes in the areas where they’re desperately needed.

“The NSW housing and homelessness peak bodies have rejected claims that increasing supply will solve the housing affordability crisis. They recognise that we need tax reform, along with public investment and private incentives to deliver affordable housing.”

Jenny Leong, Greens MP for Newtown and Rental Housing spokesperson, said:

“This Budget has no signs of relief for people struggling to pay rents in Sydney and across NSW. Rents in some parts of Sydney have almost doubled in the past decade. Wages clearly haven’t. People in NSW are increasingly suffering from housing stress.

“The Government’s own ‘Mapping the Budget’ tool shows that there are only four affordable housing projects funded in the City of Sydney, and none in the surrounding local government areas including Marrickville and Leichhardt.

“Selling off public housing and failing to protect long-term renters is not a long-term solution to housing affordability in NSW.”

For Further Comment:

• Jan Barham – 0447 853 891
• Jenny Leong – 0433 753 376

Background:

Joint statement by housing and homelessness peaks on affordable housing: http://www.homelessnessnsw.org.au/images/stories/documents/150610finaljointstatement.pdf