overpopulation and land prices in Australia

"Address population growth, tax concessions and foreign buyers." (Sustainable Population Party). The federally registered Sustainable Population Party says Australia’s housing affordability crisis is largely driven by demand-side factors, rather than supply-side issues. The party will take its message to the street at upcoming auctions across Melbourne, including The Block Auction on Sunday October 11.

William Bourke, President of the Sustainable Population Party comments on Australia’s housing affordability crisis, and the activities of the Party to tackle this problem, which included large Melbourne auction visits and a Senate enquiry submission into affordable housing (submission 89). The Population Party submission emphasises that the Australian Government’s policy goal must be to stabilise real estate prices. It argues that:

· Population growth is the primary driver of real estate (land value) inflation.
· Speculative investment has amplified its effect but would not sustain price rises without population growth.
· Investors don’t generate more supply because investors need tenants.
· The entire economy suffers from expensive housing.

In particular, the Sustainable Population Party is calling on the Australian Government to help stabilise house prices through the following measures:

• Reduce population growth in Australia.
• End foreign non-resident purchase of Australian real estate.
• Removing the discounting of capital gains tax on investment properties.

“Sustainable Population Party is redefining growth to secure a prosperous economy, healthy
environment and better quality of life for all Australians. A better quality of life includes more
affordable, well-planned and desirable housing,” said William Bourke, President of the Sustainable
Population Party.

“Australia should achieve greater housing affordability and opportunities for first home buyers and
renters. In particular, the Australian Governments needs to tackle population growth, tax
concessions and foreign buyers in order to bring back the great Australian dream.

It is pleasing to now see John Symond and Paul Sheehan join us in identifying population growth policies as being at the heart of Australia’s housing affordability crisis,” said Mr. Bourke.

For more information, http://www.populationparty.org.au/