REIWA calls for more to be done to address the housing issues facing the state.
“WA is facing housing supply issues in the sales and rental sectors simultaneously and these problems will only worsen without long term policy initiatives to address barriers to entering the housing market,” Mr Collins, REIWA President, said.
It’s time for bold reform
“While the building grants during the pandemic did help to create additional supply, we are disappointed that there were no commitments, other than a limited amount of additional public housing, from the WA Labor Party to help tackle these problems, particularly given the state’s enviable budget surplus position.
“Now is the time for bold reform to help more West Australians access housing. Critically, we need to address the rental shortage and help encourage investors back into the market to free up housing for tenants.
“Stamp duty is a key area of concern for WA buyers and there is clearly a desire for this inefficient tax to be reformed. Other states, like NSW, are taking these steps so there is no reason why WA shouldn’t also be looking at alternative methods of revenue collection to help ease the financial burden on buyers and make housing more affordable,” Mr Collins said.
In a survey conducted by REIWA of over 1,000 West Australians, 90 cent of respondents considered stamp duty to be a significant barrier to home ownership, while 60 per cent said they would opt for an ongoing annual payment if given the choice.
REIWA called on all political parties to commit to five key policy recommendations in the lead up to the WA Election.
The recommendations were:
- Support stamp duty reform that provides greater choice and opens doors to home ownership.
- Develop a plan to tackle WA’s rental shortage.
- Create local jobs by removing stamp duty on the purchase of a small business.
- Boost the retail sector through a modern and flexible legislative framework that encourages innovation.
- Formalise the off-the-plan stamp duty rebate to secure ongoing construction jobs and limit urban sprawl.
Read REIWA’s 2021 WA Election submission.
“It’s not too late for the WA Government to prioritise the housing market and put policies in place that help address the growing housing supply issues facing our state,” Mr Collins said.
“We hope to work closely with the McGowan Government in the coming years to tackle these issues so we can help achieve a fair and prosperous property market for all West Australians.”
Source: reiwa.com.au