Tackling Housing Affordability – Part 1: Dissecting Proposals for Housing Innovation (Ep. 244)

Previously known as “The Property Planner, Buyer and Professor”

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Episode Highlights

1.13 – How would the Trio describe a healthy property market?

3.16 – Mike shares his inspiration for the topic

11.05 – What are the six innovations from the article?

20.27 – “Are all innovations stimulatory?” asks Mike

27.08 – Cate runs through her preferred incentives that are on offer for first home buyers currently

44.04 – Dave talks about the importance of balancing the opportunity for new market entrants with investor activity.

50.15 – Gold nuggets!


Show notes

In this innovative, two part series, the Trio canvassed some measures that could be implemented to ease affordability and promote the healthy functioning of the Australian property market.

Mike took some inspiration from an industry friend’s article and Cate and Dave chimed in with their thoughts on some of the initiatives from the article.

In Part 2, the Trio will cover their own ideas and insights to foster a healthy property market.

How do the Trio define a healthy property market?

Dave considers the different perspectives from all of the various stakeholders. From developers to renters, first time buyers to investors, NIMBY’s, local council, retirees, … the list is enormous.

Cate weighs in with her thoughts on the multiple barriers for acquiring home ownership, in addition to the ‘big three’. Our casualised work force, for one is a significant blocker for credit availability for many. Dave cites an insufficient supply of new property.

The Trio step through the six innovations in the article, namely;

  • 45 year loan terms
  • Phasing out stamp duty
  • Balloon payments
  • Separating the ‘real risk’ from ‘robotic risk’
  • Social housing accountability, and
  • Superannuation, LMIU and Family Equity

Dave’s insights into loan term increases is enlightening and he chats about the historic changes of loan terms over the decades, and also the impact of the scars inflicted from the GFC. He touches on the stigma of longer loan terms, and essentially, borrower mindset.

“Are all innovations stimulatory?” asks Mike, and he proceeds to cite many examples.

Cate shares some of her preferred initiatives that have been devised to assist first home owners, but she also illustrates the failings of past concessions/grants, and poorly considered incentives.

Dave boldly tackles the concept of Stamp Duty abolition and proposes some thoughtful ways that the State Governments could maintain the revenue stream. He also touches on the possibilities that superannuation offset accounts could open up.

How could balloon payments work? And what are the pitfalls? Dave expands on the possible unintended consequences.

Gold Nuggets

Cate Bakos’s gold nugget: This is a courageous episode, and lots of people have lots of different ideas on this. What is important is that people in this industry who do care about housing feel like they are in a safe space to speak up.

Mike Mortlock’s gold nugget: “We require a national debate on this.” The politicians have had their opportunity and they have had quite a few fancy ideas that have exacerbated some of the issues. “Investors are part of the solution.”

David Johnston’s gold nugget: “Send us your thought on what you think will make a difference to creating a healthy property market for all participants.


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