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‘Collapsing confidence’ in housing market says Wilson
Tim Wilson has jumped on that reporting around rent increases and says there’s been a collapse in confidence since the budget which is hurting renters.
We’ve had since the budget is collapsing confidence, a lack of will to invest in housing that is going to be available for rentals.
We’re seeing a complete disaster in the housing market, and we know that’s only going to do one thing while the government continues to overshoot its migration target, and that is an increase in rents on Australians struggling to save a first home deposit.
There is an awful lot that goes into determining rents in Australia, and the thing that Treasury modelled in the context of the budget, what is the isolated effect of what the government actually changed about the housing market. And if I just step back for a second, we’ve got a broken housing system in our country, and it’s the renters of Australia who are bearing the brunt of really 40 years of government’s not doing enough about this…
I…
