A mortgage broking association has urged the appointment of a federal housing minister, which it says will help make property more affordable.
The final report of the Senate Economics References Committee’s affordable housing inquiry concluded that a housing minister was needed to provide leadership across portfolios and governments.
FBAA chief executive Peter White said property is a very complex area that covers a variety of policies and differs significantly from state to state.
“A dedicated housing minister will certainly help address the key issues of land supply, planning reform and of course financial affordability,” he said.
Mr White said a housing portfolio will also help dispel many myths about property bubbles and rising prices.
“Sydney may be our biggest city, but while housing prices there have risen dramatically, the rest of the country remains relatively flat,” he said.
“There are still many ways to keep home ownership within reach. Reduction in stamp duty is just one a new housing minister could look at.”