Every single major housing market in Australia is ‘severely unaffordable’ according to the latest Demographia International Housing Affordability Survey. Sydney is second on the list of the most severely unaffordable housing markets in the world.

Greens housing spokesperson Senator Lee Rhiannon and Greens NSW housing spokesperson Jenny Leong say it is absurd that both federal and state governments insist that they can tackle housing affordability without making any changes to unfair tax structures like negative gearing and capital gains tax discounts that favour investors.

Greens NSW spokesperson for housing Jenny Leong MP said:

“We need a major reset on how we consider housing. Housing should not primarily be a speculative investment that makes money for already wealthy people, it should be a basic right that is accessible to everyone in our community.

“NSW Premier Gladys Berejiklian has recognised that housing affordability is an urgent issue for the people of NSW. But will she be willing to move beyond the ‘increased supply’ mantra that has failed to achieve what’s urgently needed? Will she advocate for federal tax reforms? Or change the rules in NSW that favour big investor profits over community needs?

“It doesn’t matter how many times conservative governments repeat their mantra, we know increased supply alone will not solve our housing affordability crisis.

“Housing stress is having devastating impacts. The time to get serious and respond to this crisis with real action is now.

Greens spokesperson for housing Senator Lee Rhiannon said:

“Decades of generous tax concessions to investors have supercharged the housing market.

“Federal and state governments should be making it easier for people to buy their first home and not their third or fourth property. Instead they remain devoted to wealthy property investors, and continue to deflect basic truths about the impacts of negative gearing.

“Rather than scrap these nonsensical concessions, Coalition MPs have the hide to tell the millions of residents living and working in Sydney and Melbourne – where the median house price is more than 12 times and more than 9.5 times the median household income respectively – to just leave.

““Prime Minister Turnbull’s insistence that his government is serious about tackling housing affordability while keeping negative gearing off the agenda is deeply insulting, particularly for those who face a future of housing insecurity.

“The Greens’ longstanding position is to end the unfair tax breaks that put investors ahead of prospective buyers looking for homes to live in, and we will continue to fight for that.