Melbourne housing affordability not helped by political party posturing, say experts

It’s expected to take a small tumble by the end of the year, but the apparent softening of Melbourne’s property market has little to do with the housing affordability measures being championed by Victoria’s major political parties, according to experts.

Instead, the market’s deterioration is being attributed to weaker trends in clearance rates and asking prices, and not to the political class, which has been accused of dragging its feet on a key issue for many Victorians.

“I don’t think either party’s doing enough,” said Jason Byrne, a professor of planning at the University of Tasmania.

“We’re just simply moving the pieces,” he said.

On Tuesday, Victoria’s Opposition Leader Matthew Guy announced that he would be an “interventionist” premier, who would flood the state’s housing market with 290,000 lots for new homes in Melbourne’s outer suburbs.

It’s the first part of his five-pillar plan to tackle housing affordability in the state.

But experts in Victoria and interstate have cast doubt on the policy’s effectiveness.

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Source: ABC