Australia Struggles With Housing Crisis as Politicians Scrap
- Opposition parties vote to defer bill to help home-buyers
- Rental vacancies near record low as house prices keep rising
Houses in Sydney, Australia.
Photographer: Brendon Thorne/BloombergAustralia’s latest attempts to solve its housing crisis are stuck in political gridlock as the amount of available rental space in the nation hovers near a record low.
A key piece of the center-left Labor government’s housing program is in limbo after opposition parties on Wednesday voted to defer for two months legislation that aims to help first home owners break into the market. The bill is for a shared equity scheme which would allow citizens to buy houses with a smaller deposit.