HOUSING AFFORDABILITY AT A 9 YEAR LOW
August 9, 2010 · Leave a Comment
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Statistics released by the Australian Bureau of Statistics show that home lending is at a 9 year low, indicating that even more Canberrans have been locked out of the housing market.
The ABS statistics show a 1.9% drop in the number of new housing loans in June, taking the total annual drop to 28.6%, the lowest in 9 years.
“If you go by these figures, you can see that housing affordability is out the window and many people can no longer afford to take out a mortgage,” ACT Senator Gary Humphries said today.
“This combined with the rising cost of living pressures equals incredible strain on the household budget.
“People looking for housing in Canberra have been taken for granted by an out of touch government which thinks we should be ‘grateful’ and that we should ‘stop complaining’ because there is no problem.
“While young families desperately save for a deposit or look for rental housing, some Canberrans are now forced to choose between being homeless or living in a ‘slum’.
“The ACT has missed out on infrastructure spending, tourism funding, has had housing affordability funding torn away and has signed up to lose 50% of our GST revenue.
“How can you trust a Labor Party that can’t deliver and can’t stand up for Canberra?
“Only under a Liberal government will Canberrans see real action on housing affordability and the cost of living,” Senator Humphries concluded.
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