Nsw Premier

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There are many wonderful quotes on the subject of truth and lots of them are relevant to Australian real estate issues.
Mark Twain said “A lie can travel half way around the world while the truth is putting on its shoes” while Winston Churchill is credited with saying “Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as if nothing ever happened”.
Benjamin Disraeli gave us “There are three types of lies -- lies, damn lies, and statistics”, a reality which is seen every day in the press release-based coverage of Australian real estate.
But the one that’s most relevant to real estate today is this one from Nazi propagandist Joseph Goebbels: “If you tell a lie big enough and keep repeating it, people will eventually come to believe it.”
We see this revealed in the many surveys conducted on real estate issues. In simple terms, the prevailing view is the one most often reported in mainstream media, the truth notwithstanding.
So if media keeps stating a “national affordability crisis” as a fact, as it does daily, it’s no surprise when a survey reveals that most respondents are very concerned that young Australians are priced out of real estate ownership – everywhere in Australia, apparently.
Nor was it surprising when another recent survey found that foreign investors are the most popular culprits blamed for rising house prices in Australia. 
This results largely from a cynical exercise by federal politicians taken direct from a script of the iconic UK sitcom Yes Minister. If you want to show concern for an issue but plan to change nothing, here’s what you do: hold an inquiry, string it out as long as you can and, at the end of it, find an unpopular minority to blame for the problem – and then recommend holding another, more in-depth, inquiry.
That’s pretty much the scenario that’s played out in Canberra over the past 2-3 years. A long inquiry ended by blaming all the problems on dastardly foreign investors. Brilliant, because greedy foreigners are easy to dislike and they don’t vote in Australian elections.
So, while bringing on a second inquiry (the one that recently concluded by making no recommendations), the Federal Government indulged lots of wonderful sabre rattling and passionate speeches about clamping down on foreigners who break the rules, thereby creating a level playing field for young Aussie hopefuls.
There were a few highly-publicized instances of foreign buyers being forced to sell back mansions they’d bought in breach of the foreign investment rules. There you go, Australia, problem solved.
But you’ll notice that prices have continued to rise in our biggest cities. All the fluff and nonsense, all those press statements and acres of newsprint - and not a single house is cheaper in Sydney or Melbourne.
Why is it so? Because foreign investors have little or nothing to do with the cost of homes out there in the burbs where first-home buyers hunt. They’re a tiny percentage of the overall market and they mostly target high-end houses in the big cities or off-the-plan apartments. They’re not scouring Blacktown or Caboolture or Cranbourne seeking to outbid Aussie first-home buyers.
But 35 percent of respondents to a RateCity survey believed that the single biggest reason for high house prices was foreign investors. Why? Because media reports keep telling them so and your average punter doesn’t waste a lot of time on independent thought.
The next most popular culprits in the survey, Australian investors, are also unfairly maligned as the cause of real estate prices rising everywhere.
And, once again, the two worst offenders get off scot free, because media never talks about them.
The buying sector that most drives prices is the mob known as next-time buyers – home buyers other than first-time buyers. Most of the time they’re the biggest individual buying cohort and they have the ambition, aspiration and financial capacity to pay a top price. Investors have different motivations.
And when it comes to new dwellings, the biggest source of high costs are politicians are all levels of government. Local government, state governments and the federal government – they all treat the housing industry as a cash cow and load up the cost of new dwellings with taxes, fees and charges.
So when new NSW Premier Gladys Berejiklian declared that housing affordability was one of her top three priorities, she was (like everyone who has come before her) mouthing platitudes.
She’s refusing to even consider doing something about the worst of all home-buyer costs, stamp duty, which in Sydney borders on the obscene – nor about the contribution her government makes to the high cost of creating new dwellings.
Terry Ryder is the founder of <a href="https://www.hotspotting.com.au/" target="_blank">hotspotting.com.au</a>. You can <a href="https://mailto:ryder@hotspotting.com.au" target="_blank">email him</a> or follow him on <a href="https://twitter.com/hotspotting" target="_blank">Twitter.</a>
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NSW Premier Gladys Berejiklian's housing affordability platitudes

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EXPERT OBSERVATION
The NSW Premier's priorities for the next four years do not include housing supply.
The previous priorities for the NSW Premier for 2015 - 2019 included a number of priorities around housing supply, but these have been left off the 2019 - 2023 priorities.
While many of the Premier's new priorities are laudable, the absence of any priority around housing supply seems to signal a lack of interest in how the state will house population growth in an affordable manner.
Premiers Priority 7 is about reducing street homelessness by 50% by 2025, and this is a laudable priority to pursue.
Urban Taskforce member Toga has led the way in this area with their Addison Project in Randwick, which provides accommodation free of charge in an old motel that is awaiting development.
Another Urban Taskforce member, PAYCE, supports the Sydney Street Choir and they run programs that help with homelessness.
The last round of Premier's Priorities included 'Making Housing More Affordable' (Including target housing completions per year) and "Faster Housing Approvals' and ‘Accelerated Rezoning for Housing' but none of these have been included in the latest priority list.
While housing value has decreased in the last few years, there is now a big housing approval shortage that will inevitably lead to an under supply in the years ahead. This will reduce the number of new homes required for population growth, and inevitably lead to housing prices going up again.
The priorities from the last four years that referred to housing supply related to the planning system seem to have been replaced by priorities for greener public spaces and for greening the city.
While these are worthwhile areas to aim for they do not compare to the economic importance of housing supply and housing costs.
Clearly how housing is managed in a time of high population growth is an important policy issue for the NSW Government that should be measured. As the Premier in her media Release said, 'What gets measured gets done'.
CHRIS JOHNSON is the Urban Taskforce CEO
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Berejiklian's priorities leave out housing supply: Chris Johnson

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Creating more quality green spaces closer to homes and increasing the tree canopy by planting one million trees in Greater Sydney by 2022 is a policy announced today by the NSW Premier Gladys Berejiklian.
She said the first of the priorities is to increase the proportion of homes in towns and cities across NSW within a reasonable walking distance of quality green, open and public space. 
“Planting trees and creating new parks is just as important as building new roads, rail lines, schools and hospitals,” Ms Berejiklian said.
“Green and public open spaces should be accessible to everyone across the State, no matter where they live.
“That is why, for the first time, I have made it a priority to make sure more people are within walking distance of quality public space.”
Ms Berejiklian joined Planning and Public Spaces Minister Rob Stokes in Sydney’s South West to also announce planting one million trees across Greater Sydney by 2022 is another Premier’s Priority.
Mr Stokes said the program will contribute to the Government’s long-term target of planting five million trees by 2030.  
“We’re backing councils like Campbelltown City Council to increase the tree canopy cover across Sydney through funding and support,” Mr Stokes said. 
“More trees means more shade, cooler suburbs, more oxygen and a better urban environment for communities to enjoy.”
The plans announced are on top of the NSW Government’s decision to appoint a dedicated Minister for Public Spaces and the $340 million Open Spaces and Greener Sydney package.
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A million more trees by 2022 under Premier Gladys Berejiklian

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Work on the new M4 tunnels from Homebush to Haberfield is almost complete with the project set to open in around four months.
The project is expected to taking around 10,000 trucks off Parramatta Road every day.
Premier Gladys Berejikilian and Minister for Roads Andrew Constance toured the nearly-completed M4 tunnels today, part of a seven kilometre section of WestConnex.
Berejikilian said the new M4 tunnels, themselves 5.5km long, would allow drivers from Western Sydney to bypass a significant section of stop-start traffic on Parramatta Road, and instead connect directly onto the City West Link.
“Within two years, around 67,000 trips are expected in the M4 tunnels every day, and this is still just the first stage of WestConnex,” Berejiklian said.
“Today we’ve seen first-hand that the tunnelling and road pavement for the long promised project has been completed. We are on the home straight for the new M4 tunnels, with fit-out of the tunnels now underway.”
<img src="https://res.cloudinary.com/dz9xllyip/image/fetch/c_scale,w_580,q_auto:good/https://s3-ap-southeast-2.amazonaws.com/po.images/2019/4/11/Stage%201.jpg" alt="">
Constance thanked the communities of the Inner West for their patience while the work was undertaken.
“We appreciate the delivery of city-shaping infrastructure takes time, and it isn’t easy on those who live nearby. I look forward to the new M4 tunnels opening soon and taking thousands of vehicles off local roads,” Constance said.
Berejiklian said WestConnex will link Sydney’s west and southwest with the city,airport and port precinct in more than 30 kilometres of continuous motorway.
Upon completion, WestConnex will provide a bypass of up to 52 sets of traffic lights.
“Once all of WestConnex is complete in 2023, drivers will be able to get from Penrith to the Anzac Bridge without having to stop at a single traffic light and travel times from Parramatta to Sydney Airport will fall by up to 40 minutes. Traffic volumes on sections of Parramatta Road will also be reduced by more than 50 per cent,” Berejiklian said.
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New M4 tunnels one step closer to completion 

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GUEST OBSERVER
The Premier, Gladys Berejiklian’s reason for continuing with Sydney council mergers is to increase housing supply but approvals are dropping partly due to the confusion of the merger process.
The NSW Government decision to continue with council mergers will be good in the longer term for more effective planning processes but the transition phase is likely to slow down housing approvals.
The Premier has stated the advantage of council mergers is to increase housing supply and improve planning but over the next two years the amalgamation process is likely to make planning more complex.
The Government must take a stronger role in driving housing supply during the transition to larger more efficient councils by unlocking large housing projects caught up in the planning system. The Urban Taskforce is aware of over 30 large housing projects caught up in the planning process that could be turned into real projects. Some of these projects have holding costs of hundreds of thousands of dollars a month.
The continuation of the merger process needs to be accompanied by a fast track approach to large housing projects during the transition process. The Minister for Housing, Anthony Roberts, should establish an action team under a Commissioner for Housing Supply for a two year period to lift housing approvals.
While the increase in housing completions to 33,000 for Greater Sydney is good news this needs to be balanced by falling housing approvals. The Australian Bureau of Statistics data shows the housing approvals in NSW dropped by 25 percent between July and December 2016.
The Urban Taskforce is keen to work with Housing Minister Anthony Roberts to suggest ways to increase housing supply and housing affordability.
Chris Johnson is chief executive officer of property development industry group Urban Taskforce and can be contacted <a href="https://www.urbantaskforce.com.au/index.php?option=com_content&amp;view=article&amp;id=97&amp;Itemid=126#.WKTDGTt942x" target="_blank">here</a>.
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Premier needs to take a stronger role with housing supply during the transition to merged councils: Chris Johnson

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Pittwater MP Rob Stokes's planning portfolio will be taken over by Lane Cove MP and former energy minister Anthony Roberts (above) in the new NSW State Government cabinet.
Stokes takes on education in the ministry reshuffle announced by Premier Gladys Berejiklian.
Her Deputy Liberal leader Dominic Perrottet will move from finance to become treasurer, as was his entitlement.
There will be a minister for the $16.8 billion WestConnex motorway, the Penrith MP Stuart Ayres.
Cronulla MP Mark Speakman moves from environment to attorney-general, replacing Vaucluse MP Gabrielle Upton who takes on environment and the challenging local government portfolio.
Ryde MP Victor Dominello moves from innovation and better regulation to finance.
Andrew Constance remains Transport and Infrastructure Minister.
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Rob Stokes hands planning ministry in NSW Cabinet to Anthony Roberts

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GUEST OBSERVER
A review of tax system including stamp duty should be the first point of business for newly appointed premier Gladys Berejiklian.
Former premier Mike Baird had taxation reform on his agenda. 
It's time for his successor to deliver something back to property consumers.
A review of the tax system is necessary immediately.
The NSW government has seen windfall after windfall in recent years and it is time to give back.
We urge Premier Berejiklian to recognise that stamp duty has not been reviewed for 30 years.
It’s time for a Premier to step in and take charge. We believe that Gladys Berejiklian has the potential to be the Premier who leads NSW into a future where property consumers aren’t being ripped off by outdated stamp duty brackets.
Premier Berejiklian can lead NSW into a future were incentives for first homebuyers purchasing existing properties are reinstated. We call on Premier Berejiklian, as leader of the NSW Government to reduce stamp duty for first homebuyers by 50 per cent for the purchase of a residential property less than $1 million. 
We also urge her to provide the ability to pay the stamp duty over time in what will help to ease the housing affordability crisis that we are experiencing.
REINSW proposes a one off 50 per cent concession for the over 65's up to $1 million, another step that will also help to get the supply chain moving. 
Premier Berejiklian and her government will see a $4 billion surplus for 2016–2017.
By cutting stamp duty we are not asking government to reduce its revenue, to the contrary we believe, based on the experiences in other states, that a reduction in the stamp duty rate will generate additional market activity. 
To further support supply and affordability we call on the new premier to make amendments to planning laws, to bring back a SEPP for Dual Occupancy. This will provide the middle ring suburbs of Sydney with part of the solution to this major issue. 
We look forward to working Premier Berejiklian and helping support those who choose to live in NSW, the nation's best performing economy.
John Cunningham is president of the REINSW and can be contacted <a href="https://www.reinsw.com.au/imis15_prod/" target="_blank">here</a>.
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