Affordable Housing
Dr Ziad Basyouny
Ensuring Affordable and Secure Homes for Families in Watson
It's Not About Me, It's About You
A Commitment to Our Community
Introduction
In Watson, finding and affording a home has become a significant challenge. Ziad Basyouny knows that housing is more than just shelter—it’s the cornerstone of a thriving community. He’s committed to implementing strategies that make it easier for residents to find affordable housing in Watson, Sydney, and reduce rent across the board.
Key Issues
Housing affordability is at a breaking point.
Homeownership rates have dropped from 31% in 1999 to 27% in 2019.
House prices have surged 142% since 1999, while wages only increased by 44%.
Over 640,000 households lack access to affordable housing.
The rental market is broken, with median rents doubling since the mid-2000s.
The Facts
- Housing Stress: Nearly 40% of Watson households spend over 30% of their income on rent, leading to significant housing stress.
- Rental Price Comparison: Comparing rental prices in Watson Sydney from 2020 to 2024 shows a 25% increase, making it difficult for residents to afford basic living expenses.
- Unfair tax breaks: Tax breaks like negative gearing and capital gains tax discounts allow wealthy investors to buy up homes, reducing supply.
- Investors: 81% of investor housing purchases are for existing homes, not new builds.
- Federal tax breaks: cost $11 billion annually, more than what is spent on housing assistance.
These factors create a cycle of higher home prices, rental stress, and declining homeownership.
Our Plan
Action 1—Affordable Housing Investment Program
- Establish a $10 billion Affordable Housing Fund to finance new homes.
- Public-private partnerships will fast-track development.
- Build 100,000 new affordable homes over the next decade.
- Reduce housing pressure and make homeownership more accessible.
Action 2—Helping First-Home Buyers
- Expand the First Home Loan Deposit Scheme, allowing 5% deposits.
- Introduce a government-matched savings program for first-home buyers, matching savings up to $10,000.
- Rethink and redesign stamp duty
- Enable 50,000 new first-home buyers to enter the market in the next three years.
Action 3—Protecting Renters
- Cap annual rent increases at the Consumer Price Index plus 2%.
- Strengthen tenant protections, including banning no-cause evictions and ensuring access to repairs.
- Provide tax incentives for landlords offering long-term leases of three to five years.
- Increase stability and reduce evictions, making renting more secure.
Action 4—Sustainable Housing Solutions
- Introduce Green Housing Grants to support energy-efficient homes.
- Lower household energy bills by 20 percent through efficiency measures and regulation of energy sector.
- Require all new affordable housing developments to meet energy efficiency standards.
Action 5—Regional Housing Growth
- Launch a Regional Housing Development Program with grants and relocation assistance.
- Invest $3 billion in regional infrastructure, including transport, healthcare, and schools.
- Support 50,000 families and businesses to settle in regional areas, easing housing demand in major cities.
- Promote remote working arrangements to enable regional development.
Action 6—Ending Unfair Tax Breaks
- Restrict negative gearing to one investment property per taxpayer.
- Introduce a Multi-Property Ownership Levy for those with ten or more properties.
- Reduce speculative investment and free up housing for first-home buyers.
- Generate an estimated $1.5 billion annually to reinvest in affordable housing projects.
Action 7—Implement STRATA Reforms
- Strata has become a major hurdle and barrier to people wishing to purchase an apartment, and are long over due for reform, regulation and reassessment.
Call to Action
Housing is a fundamental right, and Ziad is ready to make sure that right is protected in Watson.
The housing system is broken, but it can be fixed. Let’s make housing affordable. Vote 1 Dr Ziad Basyouny.
