Labor’s Housing Policy….Let Them Eat Cake

Labor’s Housing Policy….Let Them Eat Cake

Northern Territory Shadow Treasurer Willem Westra van Holthe

Housing Cracks

Victor P Taffa

The latest Territory housing finance commitments are a sobering reflection of macro-economic issues driven by poor Henderson Labor Government Planning, Shadow Treasurer Willem Westra van Holthe said today.

“The worst seasonally adjusted monthly result since October 2002 saw just 296 owner occupiers receive finance.” Mr. Westra van Holthe said.

“Labor failed to invest in land release during the growth years of 2005, 2006, 2007 and 2008.”

“The strangling of supply boosted dwelling prices above the capacity of people on average incomes to buy or rent a home.” Mr. Westra van Holthe said.

“People were forced to live in cars and tents, all the while being priced out of the housing market.” Mr. Westra van Holthe said.

“With the Labor Government having killed off the opportunity for locals to enter the home market in 2010, people are sensing better opportunities elsewhere.”

“The Territory has been losing population interstate this year, and this can be attributed to the high cost of housing.” Mr. Westra van Holthe said.

“The economic woes now facing the Territory are evident by more homes being on the market for longer and rental home availability overtaking demand.”

“If the Chief Minister and Treasurer were serious about long term growth, they would have ensured that the cost of living in the NT, and particularly the cost of putting a roof over your head remained affordable.”

“They got the demand-supply balance seriously wrong and Territorians tired of waiting for an affordable home are leaving as a result.” Mr. Westra van Holthe said.