Yes, in our backyards: how to give the kids a fair crack at home ownership

Sydney and Melbourne are now the third and sixth least affordable housing markets in the world, and other Australian cities are seeing rapid price rises. Headlines about record hreappear every time the notch is pegged higher. Nevertheless, these stratospheric price tags are remarkable — and are having significant social effects.

Higher housing costs increase inequality. Elderly rich homeowners are doing well, while renters and young homebuyers are falling further behind. Moreover, many buyers can only borrow from the bank of Mum and Dad. So home ownership is becoming hereditary.On the day the latest house price data were released, we also learned of the NSW Productivity Commission’s White Paper on

The paper is the latest in a long string of reports to argue this. That, in turn, reflects a large body of research that finds land use restrictions have large effects on housing prices. However, if apartment towers harmed neighbourhood amenity – as the opponents of density argue –then nearby house prices should fall. That does not happen.In a recent Centre for Independent Studies paper, Zac Lanigan and I studied five prominent concentrations of high-density construction in Sydney and three in Melbourne . We find that nearby house prices are essentially unaffected by new development.

Maybe should invest in decentralising the population by investing in truly 'regional' hubs to give affordable housing maybe?

How does a National Newspaper publish such tripe? It’s only opinion but still it should surely be more than drivel in order to be published.

Just because they go up doesn’t mean it hasn’t affected them , perhaps the price would hav been even higher if it wasn’t for the apartment towers ....

This is the great boomer sell. You don't deserve a space of your own. Get a dog box in a poorly built apartment. F that. Lets not rush to increase population.

Blame it on realty agents who force houses into Auctions which boost price to un reasonable levels.

Systematic housing problems are rooted in government policy. Why is there no housing and who owns it all?

Housing affordability is a simple ratio of house prices to household incomes. Index the minimum wage so that median household income is 1/3 median house price like it was when my boomer parents bought their first home, and the problem will be solved. No ugly towers required!

Local residents are right at least about one thing. Australia has one of the lowest Building Standards in the world. The new high rise apartments in major cities are ugly, poorly designed and cheaply built. Governments for too long have been kowtowing to greedy developers.

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