Original article by Jacob Greber
The Australian Financial Review – Page: 3 : 29-Aug-17
Housing affordability may not improve for another four decades, according to the Committee for Economic Development of Australia. Factors that may bring about an improvement include increases in capital gains tax and more supply of land for housing. The CEDA also expects the proportion of Australians living in capital cities to rise in coming decades, and notes that this may only serve to increase wealth inequality, while low-income workers will struggle to find accommodation in large cities. The CEDA notes that the housing market appears to be geared to producing homes at a lower rate than is needed, thereby contributing to higher prices and reduced affordability.
COMMITTEE FOR ECONOMIC DEVELOPMENT OF AUSTRALIA