Zali Steggall (Warringah, Independent) Share this | Link to this | Hansard source

Housing affordability is at a crisis point. Renters face huge challenges in Warringah, with under one per cent of availability and 33 per cent of renters spending more than 30 per cent of their income on rent. The type of housing we need is also changing. Single-person households now make up to 26½ per cent of Warringah households; and the population is ageing, with many of our future residents expected to be over 55. Of the 81,000 workers in Warringah, under 10 per cent are registered as essential workers. Essential workers need to be able to afford to live locally, otherwise our community will have a shortfall of local police, medical, teaching and caring professionals.

We must find a balance between the supply side solutions, such as increased housing targets and accelerated construction, and demand side measures, such as addressing short-term accommodation, improving rent security and reforms to taxation policies, such as negative gearing and capital gains tax concessions, which remain politically sensitive yet crucial to long-term sustainability of housing. I also encourage the government to look at incentivising retirees to downsize but also to be able to rent spare rooms without incurring capital gains tax on the family home as a result of producing an income. We must look for multiple solutions.