Budget 2024 reply: Peter Dutton wants a housing election. This could get nasty

On Thursday morning, Reserve Bank assistant governor Sarah Hunter explained to a real estate conference in Hobart how the housing market was a complex machine, where changes in the calibration of vital cogs – shifts in demographics, jolts to housing supply, and the shock of surging population growth –simpler message in his budget-in-reply speech in Parliament House

“My priority is restoring the dream of home ownership,” he said, claiming his migration changes could free up 40,000 homes in the first year alone. This is a crisis that will be with us for years – and that’s exactly why Dutton’s apparently quick-fix solutions will get a hearing. Hunter says the work-from-home trend – about 35 per cent of people report they worked from home in the past four weeks, according to Bureau of Statistics numbers – has reinforced the shift to smaller household sizes. Households are now prioritising an office space at home, leaving less room to house more residents.

The proposal to allow some property buyers to temporarily tap their super – any money withdrawn would need to be replaced upon sale of the home – is not new, but will prove controversial.a key part of its election pitch.He suggested the super sector would have only itself to blame after “failing to heed warnings and seriously take up the cause of investing in affordable housing in this country”.The natural instinct of many is to dismiss Dutton’s early super access policy on two fronts.

Source: Real Estate Daily Report (realestatedailyreport.net)

Australia Latest News, Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Budget reply 2024: Peter Dutton’s housing fix must not block foreign tradies, developers warnDevelopers warned that cutting immigration would not only slow home building, but have ramifications for the entire Australian economy.
Source: FinancialReview - 🏆 2. / 90 Read more »

Budget reply 2024: Opposition Leader Peter Dutton vows to slash permanent migration by 25pcThe opposition leader has vowed to slash permanent migration by a quarter and ban foreign investors buying established homes for two years.
Source: FinancialReview - 🏆 2. / 90 Read more »

Budget 2024: Peter Dutton slams tax cuts for billionairesThe opposition has blasted $27.8 billion in production credits in the budget as “tax cuts for billionaires”, vowing to repeal them if elected.
Source: FinancialReview - 🏆 2. / 90 Read more »

Budget 2024: Chalmers and Dutton put their economic credibility on the lineChalmers has made a big, bold gamble on inflation which risks the living standards of millions, while Dutton’s rhetoric is bigger than the reality on immigration.
Source: FinancialReview - 🏆 2. / 90 Read more »

Federal Budget 2024 live updates: Question Time starts as opposition prepares for budget replyThe 2024 federal budget has been handed down on Tuesday night and the government has begun the process of selling it to the public. We're now approaching Question Time, ahead of the opposition's budget reply.
Source: abcnews - 🏆 5. / 83 Read more »

Budget 2024-Budget sees the return of government as saviourTwo decades ago, Australia was poised to shed the hard done by battler mindset. Now it is more entrenched than ever.
Source: FinancialReview - 🏆 2. / 90 Read more »