CDU EXPERT: 'Catastrophic' effects to come if housing supply not addressed
Charles Darwin University
17 JUNE, 2024
Who: Charles Darwin University Lecturer in Economics and Business Dr Bhanu Bhatia
Topics:
- House prices in regional and capital cities
- Housing supply
- Immigration and housing
Contact details: Call +61 8 8946 6721 or email [email protected] to arrange an interview.
Quotes attributable to Dr Bhanu Bhatia:
"The population of several of Australia’s capital cities has seen significant growth, driven by net overseas migration, a surge in demand for single-family homes, government subsidies, a lack of planning, limited increases in supply, negative gearing and capital gains tax concessions.
“A lack of long-term vision regarding housing has meant that the sector has been completely dependent on short-term fluctuations, reacting to ongoing economic uncertainties, supply chain disruptions, and labour shortages impacting the construction sector.
“A long-term view with better planning, infrastructure, and abolition of negative gearing is one option for the future. If nothing is done, the catastrophic effects of viewing housing as a profitable commodity are likely to be felt for generations to come, where the idea of owning a home might become a luxury for the rich.”
Contact details:
Raphaella Saroukos she/her
Research Communications Officer
Marketing, Media & Communications
Larrakia Country
T: +61 8 8946 6721
E: [email protected]
W: cdu.edu.au
Charles Darwin University acknowledges all First Nations people across the lands on which we live and work, and we pay our respects to Elders both past and present.
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