Professor Rachel Ong ViforJ contributes to CEDA’s Housing Australia report
BCEC Deputy Director Professor Rachel Ong ViforJ is a contributing author on the Committee for Economic Development of Australia’s (CEDA) recent Housing Australia report.
The report explores housing affordability and land supply issues in Australia, and the flow-on economic implications of these issues.
Professor Ong ViforJ authored a chapter on the intergenerational impacts of housing policies, titled ‘Housing futures in Australia: an intergenerational perspective’.
In support of her chapter, Professor Ong ViforJ addressed the report launch event in Perth on Tuesday 29 August, alongside panellists The Hon. Peter Tinley AM, WA Minister for Housing; Veterans Issues; Youth and Kathleen Gregory, Chief Executive Officer of Foundation Housing.
“The great Australia dream of owning our own home has prevailed for more than half a century,” Professor Ong ViforJ said.
“However, in recent times, the stability and affordability of housing has increasingly been called into question as real house prices surge in various parts of Australia.”
“Since 1970, Australia’s median real house price has almost quadrupled, while real wages have only doubled. Furthermore, young people are refraining from entering the housing market, with a 25% drop in home ownership among 25/34 year olds between 1982 and 2012.”
Professor Ong ViforJ said the new housing landscape appeared to feature two phenomena – long-term renting and precarious home ownership.
“Delivering new housing solutions for low-income renters is a pressing issue, as is the need to develop stronger policies to protect long-term renters.”
“As life expectancies continue to lengthen, housing policy formulation and reform increasingly needs to address the concerns of co-existing generations – both young and old.”
Professor Ong ViforJ’s presentation is available to view online within our Publications.