Housing affordability stress has been a major talking point for both the public and politicians over the last decade. Yet many people, especially first home buyers , are still finding it difficult to break into the housing market and Australian housing remains some of the most expensive housing in the world. This has seen an increase in the number of people renting long term. However the private rental market in Australia is owned almost exclusively by small scale mum-and-dad investors, and unlike in some other countries, notably European ones where renting has long been the norm, there are few policies to ensure tenants have access to long term stable and affordable rentals in Australia. In today’s blog piece Professor Hal Pawson from UNSW discusses a Build-to-rent housing model that has the potential to address some of the public policy objectives around affordable housing. While not a silver bullet, this type of housing can create stability in an otherwise volatile housing market, and provide an affordable housing fix for many renters doing it tough in the current rental environment. However for this to happen major tax changes are needed.
This piece orginally appeared in The Conversation
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