ACT Independent Senator David Pocock has welcomed housing taking centre stage in the election campaign, saying a new supply side announcement will help but warning that fundamental reform is still the missing piece from major party policies.
“Housing is the number one issue people in our community consistently raise with me,” Senator Pocock said.
“Housing concerns range from being able to afford the rent, to buying a home, being able to meet mortgage repayments or either being at risk of or experiencing homelessness.
“The announcements from Labor today deal with one element of that - first home ownership - but fundamental reform continues to be the missing piece of the policy puzzle.
“We need to start treating housing first and foremost as a human right that everyone can access, rather than a vehicle for wealth creation. We also need a long-term plan to tackle housing and homelessness like what I have proposed in my private senator’s bill.
“Labor’s investment of an additional $10 billion for 100,000 new homes for first home buyers is very welcome and will add to desperately needed new supply.
“Too often the ACT is overlooked in national programs so I will push to ensure that people in Canberra get their fair share of these dwellings. On a per capita basis that would be around 1,600 homes. I would urge Labor, if re-elected, to work with community housing providers to deliver these homes in order to create opportunities that also boost social and affordable housing stock.
“The new investments add to the government’s existing Housing Australia Future Fund (HAFF), which, along with housing advocates, I have been urging them to increase. I would oppose any move from the Coalition to abolish the HAFF if I am re-elected and they form government.
“Labor’s proposed changes to First Home Guarantee property price caps is something I’ve pushed for as the current limits really disadvantage first home buyers in the ACT. But uncapping the income thresholds will drive demand which experts have warned against.
“We also need to see more investment in tackling homelessness, including prevention, crisis and temporary accommodation, especially among vulnerable cohorts like young people and older women.
“The Coalition’s policy announcement today is another one-off pre-election vote buy. It would provide some undeniably welcome immediate relief to lower and middle-income households but have no enduring benefit, despite also costing the budget $10bn.
“Once again both major parties appear to be ruling out any kind of sensible reforms to negative gearing or the capital gains tax discount on investment properties. This is hugely disappointing and increasingly out of step with the community. It also overlooks the support for this kind of reform that exists in the parliament.
“I don’t accept the all or nothing approach to property tax reform others have pushed in the past. We can make small, sensible changes that protect existing investments in line with the options Senator Lambie and I had the Parliamentary Budget Office cost.
“We need to stop applying expensive bandaids and start pursuing bold reform. I hope that’s what a hung parliament would be able to do.”
Senator Pocock is hosting the Great Housing Debate community forum on 22 April where he will be discussing his 2025 policy platform, priorities and a range of policy solutions with a panel of experts in Canberra.