Parra News June 8 2021

There’s a housing crisis in
Parramatta – and we need a
plan to fix it
Australia is in the grip of a housing crisis.
It’s harder to buy or rent and there are more
Australians experiencing homelessness than
ever before.
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Julie Owens Bulletin
The reasons for this are not a mystery. While wages growth
has been stagnant since the Government was elected in
2013, low interest rates and Government incentives have
increased demand in the housing market, pushing up prices.
Apartment developments have exploded in places like
Parramatta, which has increased housing supply, but we
haven’t been building enough social and affordable housing
to keep pace with demand.
There are more than 400,000 people waiting for social
housing in Australia, including 4,200 in Parramatta, and
Everybody’s Home estimates that Australia will need
500,000 new social and affordable homes in the next five
years.
The Morrison Government had an unprecedented
opportunity to address these issues in the latest Budget,
which has racked up a trillion dollars in debt in response to
the pandemic.
Instead they’ve introduced measures that will increase
demand and do little to address the critical shortage of
affordable housing.
These include increasing the amount of money you can
withdraw from super for a home deposit from $30,000 to
$50,000. Experts say this will only push up prices, while
leaving Australians worse off in retirement.
Another measure that’s received a lot of attention is the
Family Home Guarantee, which will allow 10,000 single
parents to buy a home with just a 2% deposit over the next
four years.
When you divide the number of guarantees by the
electorates represented in our Federal Parliament, that
means an average of just 16 of the 738 single parent
households in Parramatta stand to benefit each year.
Grants Forum
I’ll Ill be hosting a grants forum on Monday 12 July to
explain the
ins and outs of the grant
application process and how
organisations can maximise
their chances for success –
scan the QR code to register.
Parramatta needs more affordable housing – like this Evolve Housing
development in Harris Park.
If those 16 single parents want to buy a house or
a unit in Parramatta, they’ll need to be earning
close to the scheme’s $125,000 income cap to
be able to borrow enough money to do it. Data
from the Melbourne Institute and CoreLogic
shows that someone earning the median income for a
single parent with two kids ($56,795) would only be able to
afford a house in one Sydney suburb with the guarantee –
Carramar.
Labor believes the Government needs to take urgent action
to address the housing crisis. That’s why we’ve committed
to establish a $10 billion Housing Australia Future Fund.
Returns on the fund in the first five years would build
20,000 new social homes – with 4,000 set aside for women
and children fleeing domestic violence and older women
at risk of homelessness. They would also build 10,000
affordable homes for frontline workers; support housing
repairs in remote Indigenous communities; and fund crisis
housing for women fleeing domestic violence and older
women and veterans at risk of homelessness.
After the first five years, a portion of the returns will fund
acute housing needs each year in perpetuity – creating a
permanent funding base for social housing that will also
create jobs and inject billions into our economy.
Our community needs more social and affordable housing
– and a Government with a plan to fix our housing crisis. If
you’d like to learn more about Labor’s plan, scan the QR
code.
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parra news » Tuesday, June 8, 2021
Julie Owens MP FEDERAL MEMBER FOR PARRAMATTA
If I can be of any help please phone me on 9689 1455 or write to 1/25 Smith St, Parramatta NSW 2150
or email julie.owens.mp@aph.gov.au julie.owens.mp www.julieowens.com.au
Authorised by Julie Owens MP, Australian Labor Party, 1/25 Smith Street, Parramatta.
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