SBS AFRICAN

No easy fixes for housing affordability crisis hitting Australian youngsters

Houses on a typical suburban street.

The federal treasurer has suggested his plan to fix Australia's housing affordability crisis is unlikely to include any changes to negative gearing.Housing affordability is expected to be a key focus of the upcoming May Budget, with Scott Morrison indicating he prefers supply-side changes, like cutting back on regulations for property developers.But Labor and some property experts say the government will need to cut back negative gearing if it is serious about curbing the rise in house prices.James Elton-Pym reports.

House prices are affected by supply - the rate at which new houses are built - and demand from buyers, including investors.

Mr Morrison says Australia's problem is on the supply side.

He says planning delays, access to land and excessive regulation are hurting the supply of houses, and driving prices up.

But Labor says there's a problem with demand, too, with negative gearing driving unsustainable investment in property.

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