Housing is at its least affordable in almost three years, with spiralling land costs and excessive fees making home ownership more out of reach for Australians.
"Since the national housing cycle hit its peak it has been readily apparent that the triple whammy of spiralling land costs, excessive fees and charges and planning red tape was making a tangible recovery in housing affordability virtually impossible.
"Moreover, a distinct lack of progress in addressing these three factors means that in the higher interest rate climate of 2006, we find ourselves back in the same affordability hole."
The manifest failure of government to act at any level on housing affordability in Australia simply beggars the imagination. It's so appalling that one begins to suspect a 1984-style conspiracy on the part of Ministers — "imagine a boot stamping on a face — forever".
Home ownership slips out of reach