Labor’s take on improving housing affordability in Australia is not sitting well with many market watchers, particularly its proposed policy to pay developers for building affordable rental homes.
Labor aims to lay out a 10-year plan to establish 250,000 new homes across the country over the next decade, 20,000 of which will be completed during its first term in the government if it wins the election. The plan is to give owners or managers of new homes $8,500 annually for 15 years as long as they lease properties for 20% below the market rent.
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Source: Your Mortgage