The Key to Tackling the Housing Crisis

The Minns Labor Government was elected earlier this year with a clear plan for tackling the housing crisis currently plaguing the country, but particularly affecting New South Wales as the most populous state in Australia. Nowhere else in the country is the housing crisis so clear to see as in Sydney.

Like many other crises requiring bold social policy solutions, young people are wearing the brunt of it.

I admire the tenacity with which the Minns Government has come into Macquarie Street with a clear plan to tackle housing. Labor has committed to fixing existing social housing stock, building more social housing, and is actively challenging the NIMBYs of Balmoral Beach and pushing for radical housing targets to tackle the supply side.

This is something we should be proud of as members of NSW Young Labor.

But, frankly, the housing crisis is affecting young people now.

Young people are more likely to be renting. The ones who aren’t are likely living with their parents because they can’t afford to live out of home. It’s a story we know all too well.

Increasing supply of housing will, of course, improve housing affordability in the medium to long term.

We can’t fix the housing crisis and lower rents overnight, but tangible, real solutions are needed to start making life easier for young renters.

I’m not talking about pets in rentals, as much as we all love the idea. With a cost-of-living crisis and more people choosing to live in sharehouses to save money, I doubt many of us are thinking about getting a cat.

I’m talking about a Tenancy Review Scheme, and I’m talking about a vacant property tax.

The Tenancy Review Scheme is a simple, cost-effective way to make life easier for renters in the near future. It can be done through existing agencies, such as the Rental Bond Board. It tips the balance back in the favour of renters. Not only are landlords currently able to charge through the nose for their properties, but there are also little to no rights for renters to a well-maintained, safe property or good renting experience. We may not be able to lower rents overnight, but we can at least look at improving on value for money.

It is only fair that landlords begin to be held to the same standards as renters when it comes to providing references.

And it is only fair that landlords are held to account where their property is not being used for its intended purpose - housing.

That is why NSW Young Labor is proposing a vacant property tax at its 2023 Conference.

Housing is a valuable resource and it should be treated as such. It is simply not fair for investors to be able to hoard this resource while young people like us are struggling to find a decent place to live.

Our proposal is simple: If a property is vacant for more than 50% of the time in any given 6 month period, it will be subject to a vacant property tax to be collected by the State Government.

And don’t we all know the State Budget could use a boost right now.

These proposals are not rocket science, and they won’t resolve the crisis alone. But they are real, tangible, effective solutions that will help young people in the short-term as they navigate this housing crisis.

I look forward to watching the Minns Government’s bold plan for building more housing play out.

But I also implore them to do something to help us now.

Did you know?

NSW Young Labor is asking our members to move our template motion at your local branches, SECs, and FECs.

While this housing crisis affects everyone, like with so many other issues facing Australia and the world over the last few years, young people are disproportionately wearing the brunt of it.

Faced with drastically increasing rents and the dream of property ownership slipping further and further out of reach, action is needed now to ensure this crisis doesn’t get any worse.

You can find the motion here.