What I’m Hearing in Curtin - May 2024
As an Independent, I decide where to focus my attention based on what I hear from the community.
Last weekend, I was doorknocking with a team of volunteers, asking people what they care about, what challenges they are facing and how they want me to hold the Government to account.
The two most significant challenges that were raised at this doorknock were housing and cost of living.
I spoke with a number of young adults and their parents about the reality they face – they can’t afford to move out and can’t see how that’s going to change any time soon. A 23-year old told me he’s working in a decent job, but he can't afford to move out and live anywhere near his parents, friends or workplace.
I heard from a single mother about a recent rent increase and what it meant for her weekly budgeting – the occasional splurge on take-away just isn’t possible any more. And she’s worried about how she would cope with any further increases.
I wish I could say there’s a quick fix for the housing crisis, but the reality is that there isn’t.
It has taken 20 years to get into our current predicament. As John Howard said, ‘no voter has ever complained to me about the value of their house increasing’. But although politically popular, the result of policies that drive price increases is that a generation of young Australians are cut out of home ownership.
The two thirds of Australians who own a home or have a mortgage don’t want to see the value of their home decline and the one third of Australians who don’t own a home, can’t see how they ever will. It also means a lot of our national wealth is tied up in property, which is an unproductive asset.
Addressing this problem will take guts and long-term thinking.
We need greater coordination across all levels of government – more land released and zoned for housing, appropriate infill that people want to live in, investment in more social and affordable housing and a review of the tax incentives that make an investment property more affordable than buying a home.
On cost of living, inflation is the worst culprit. While Australia is not alone in experiencing higher inflation, there are things
the Government can do. In the upcoming Federal budget, I will be looking for targeted cost of living relief that doesn’t shoot itself in the foot by contributing to upward inflationary pressures. It’s a fine balance, but getting it right is vital.
I am holding two Cost of Living seminars with Financial Wellbeing Collective, for individuals on 21 May and small business owners on 13 June. Click on “Get Involved” and “Kate’s Events” in the menu above to register to attend.
