Housing supply is unlikely to have bounced back by the next election, so Labor has its work cut out to win over a key bloc of Melburnians.
There was some rare good news on the economic front this week when fresh data showed we are, with Australia’s headline inflation sinking to its lowest level in more than three years.
Days and days of housing announcements suggest Jacinta Allan isn’t shying away from this issue – in fact, she seems willing to stake her premiership on it.by boosting housing stock in existing suburbs, hoping it will alleviate rental stress by increasing supply as well as turning more younger Victorians into home owners.
Roughly one-third of Australian households rent, while another third own their home outright, and the final are mortgage payers.found that while most Victorians still live in a home they own, homeownership overall is declining, starting later in life, and increasingly concentrated in fewer hands, while the number of renters is growing.Until recently, Labor had largely banked on the support of renters.
Problematically for Allan, efforts to increase housing supply will take time, meaning the government cannot guarantee its efforts will convince this influential voting bloc by the next election day.
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