Chris Minns, like most labor politicians, identified the problem: allegedly insufficient housing in Sydney. But he ignored three collosal factors driving that problem. First, supply is not the issue. Under John Howard foreigners were limited to buying no more than 50% of units in a new development. Kevin Rudd scrapped that cap and allowed well heeled non residents to buy 100% of units in a new development. Second, supply of land or units is not the problem when labor allows 600k migrants to arrive in only a few years. Some migrants are well to do and compete with Australians for properties. Others are brought in, allegedly refugees, and are supported financially by the Commonwealth. Demand, too much demand is the problem. This results in Australians, young and old being driven out of the property market. Third, last I read, there is no enshrined right for young Australians or for migrants to live and work in Sydney and for Sydney to be affordable. If Sydney siders want to consider their city as “full”, it is surely their right. They should not be forced to accept higher density living when many of the new residents are newcomers.
Until the media exposes Labor and their green friends, by calling out the true problem, that is, that demand and not supply or green tape or red tape or difficult councils is the handbrake on housing policy, no meaningful changes will take place.