Introducing land rent, the ACT’s excellent idea for making houses cheaper

Australian home prices have risen 60% in the past five years. That’s great news for the seven million households who own one.

But at the same time three million Australian households pay a total of $50 billion per year in rent. The more prices rise, the further away their dreams of home ownership drift.

But what if there was a way, right now, to offer a form of secure long term home ownership to renters while saving them about half their housing costs?

Wouldn’t it be something we should talk about?

A new report I have written for The Australia Institute and Prosper Australia to be launched on Tuesday night in Melbourne shows that not only is it entirely possible, but that it has been happening quietly in our nation’s capital for a decade, saving Canberra residents millions per year.

Click here to read more.

Source: Scoop NZ