WHY THE FEDERAL BUDGET NEEDED TO INCENTIVISE RESIDENTIAL PROPERTY INVESTORS
A slightly different take this week – we thought we should share our media release about the Federal Budget: WHY THE FEDERAL BUDGET NEEDED TO INCENTIVISE RESIDENTIAL PROPERTY INVESTORS Property expert and the driver behind the Homes For Everyone campaign Mal Cayley, warns the 2023/24 Federal Budget will see the rental crisis get worse,…
A slightly different take this week – we thought we should share our media release about the Federal Budget:
WHY THE FEDERAL BUDGET NEEDED TO INCENTIVISE RESIDENTIAL PROPERTY INVESTORS
Property expert and the driver behind the Homes For Everyone campaign Mal Cayley, warns the 2023/24 Federal Budget will see the rental crisis get worse, first-time homelessness increase and put fuel to the fire of rental and house price increases.
“Over the next two years we will see record immigration numbers which has many positives but it could also be the tipping point for our social fabric that we pride ourselves on in this nation,” Mr Cayley says.
“Not meeting this growth with housing supply at the same – or a higher rate – is a policy choice to cause homelessness. Housing stress has far reaching social and economic impacts.”
Mr Cayley believes empty promises and playing on the peripheries of social housing and Build-to-Rent schemes will not ease this crisis…instead more measures need to be taken to incentivise investors.
“These policies are needed but they also need to meet the growing demand before the masses come in from overseas. It’s madness to not match immigration policy with housing supply, especially when we already have a crisis,” he says.
Mr Cayley says we can’t just focus on fixing the supply issues long term, there needs to also be a more immediate solution.
“There is no current focus at any level of government on those who can actually add to supply quickly – residential property investors. They are the very ones who provide housing for more than 90% of renters which makes up more than seven million Australians,” he says.
“If we don’t support residential property investors, more will exit the market and the current constraints means fewer will enter – this is not good for the homelessness.”
When asked about what he sees as the effect of the lack of supply for new migrants and the current policy focus, Mr Cayley’s predictions are dire.
“Shanty towns are the future for tens of thousands of Queenslanders without radical action and this comes from courage and a willingness to understand cause and effect of this crisis before putting solutions in place,” he says.
“The very two things that are absent in politics and policy to date is neither side has yet shown they are willing to do what needs to be done. Worse, The Greens are on a policy path that will guarantee the increase in homelessness and worsening rental crisis in this state.”
Mr Cayley has undertaken extensive research into the housing supply and demand figures for the region, recently making available his findings in the free 2023 Sunshine Coast Property Market Update.
Mr Cayley has also launched the Homes for Everyone website to help inform and motivate the community about the issue.
“Homes for Everyone is about listing the causes, providing solutions and bringing everyone together as one voice for the community to demand action at every level of government,” Mr Cayley said.
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This crisis also presents the most incredible opportunity for property investors. We can both secure our future while at the same time, help to alleviate the challenges faced by a lack of supply. To understand why, and how it applies to your specific circumstances, reach out to our team for a free, and obligation free, property strategy session. You have so much to gain, and nothing to lose.
