Australia Budget to Tackle Housing Affordability, Morrison Says
- Home prices rising most in 7 years have stoked bubble concern
- No changes to tax breaks for property investors, Morrison says
Residential buildings are seen from the observation deck at the Q1 residential tower on the Gold Coast, Australia, on Saturday, Aug. 17, 2013. The pace of recovery in Australia's $4.5 trillion housing market is boosting bets that the Reserve Bank will consider halting the developed-world's most aggressive series of rate cuts.
Photographer: Patrick Hamilton/BloombergAustralian Treasurer Scott Morrison signaled next month’s budget will include measures to address housing affordability, amid mounting concern soaring home prices are locking young people out of the property market.
The government is considering steps to boost the supply of homes and ways to lure institutional money into social and affordable housing, Morrison said in a to the Australian Housing and Urban Research Institute in Melbourne on Monday.