Land policy blamed for costly homes

Ian Bracegirdle

THE property industry has called on state governments to lower taxes and release more land for development to address housing affordability.

Releasing its third annual Development Assessment Report card, Property Council chief executive Ken Morrison said states were still lagging on development assessment principles released a decade ago.

While reputable economists and policy experts have argued negative gearing and capital gains tax discounts were key to driving up the cost of housing, the property industry has instead argued slow land release was the main cause.

Mr Morrison said slow land release and high taxes in most states were "stifling new housing, increasing costs and impacting affordability".

His comments echo that of Queensland LNP Senator Matt Canavan who this week blamed slow land release as the main driver of a lack of affordable housing.

However, the government recently rejected the findings of a lengthy Senate inquiry that recommended reforms to the tax treatment of housing investments.

Topics:  development housing affordability property

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