Land supply plays big role in relieving housing unaffordability ACT Treasury states


Canberra Liberals Leader Elizabeth Lee says she is incredibly disappointed there is nothing in the Budget Review released yesterday to address the skyrocketing price of housing in the ACT, despite ACT Treasury stating that a supply response is necessary to relieve pressure on land prices.

“The Labor-Greens Government’s own Budget Review even acknowledges that if the demand for land is higher than supply, prices will rise,” Ms Lee said.

“Tens of thousands of Canberrans are lining up for only a few dozen blocks of land for detached housing and are subsequently seeing their dream of owning their own home slip away.

“It is clear there is a significant gap between supply and demand for detached housing in the ACT.”

This comes only a few weeks after Chief Minister Andrew Barr told a Legislative Assembly committee that ACT Government decisions have virtually no impact on Canberra house prices.

“This Labor-Greens Government has been told by Treasury that restricting land supply is driving up prices, and yet they refuse to take action.

“It is not a silver bullet fix because housing affordability is a complex issue but unlocking more land for the tens of thousands of Canberrans who want the opportunity to own their own home is a good place to start.

“We know that Labor is wedded to an infill policy that does not serve the community’s needs and wants at the behest of the Greens and it is Canberrans who are suffering the consequences of being priced out of the housing market.

“Making Canberra an affordable place to live with genuine housing choices should be a priority in the midst of a housing crisis but Labor and the Greens are not interested in taking any responsibility or using the policy levers in their control to give Canberrans the dream of owning their own a home,” Ms Lee concluded.