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Question and Answer Tracking Details

8654 - RENTAL AFFORDABILITY

Haylen, Jo to the Treasurer, and Minister for Industrial Relations

What is your response to findings that New South Wales is the least affordable state, with over half of all low income renting households under rental stress?

Answer -

The Government has recently announced a series of measures designed to address the challenges faced by low income renter households.

The Greater Sydney Region Plan, announced March 2018, committed to introducing an affordable rental housing target of 5 to 10 per cent that will apply to the density uplift of residential rezoning across Greater Sydney, subject to viability. This ensures that going forward the supply of affordable rental housing will increase in line with overall housing supply growth. Affordable rental housing delivered by the targets will be specifically for low and very low income households, and could provide a pathway out of social housing.

These reforms alongside the Government's introduction of stamp duty exemptions and concessions, are designed to ensure the people of New South Wales are better able to access the housing market either as first home buyers or through improved rental access.

When the Liberals and Nationals came into government in 2011, New South Wales had the lowest number of new dwelling per capita of anywhere in the nation. From 2007 to 2011, building approvals averaged less than 32,000 a year. In 2016-17, the Australian Bureau of Statistics had New South Wales building approvals at over 72,000.

Question asked on 7 June 2018 (session 56-1) and printed in Questions & Answers Paper No. 189
Answer received on 17 July 2018 and printed in Questions & Answers Paper No. 193