The Australian Council of Social Service (ACOSS) has welcomed Labor's $10 billion housing supply investment while calling for additional focus on social and affordable housing. The advocacy group simultaneously criticized the Coalition's proposed mortgage interest tax deductions for first home buyers.
"We welcome the scale of Labor's commitment and the recognition that new housing supply must be part of the solution," said ACOSS CEO Dr Cassandra Goldie.
ACOSS representatives emphasized that while increasing supply addresses part of the housing crisis, the ultimate goal must extend beyond home ownership. The organization highlighted that vulnerable Australians facing housing insecurity require immediate solutions through social housing investment rather than market-based approaches alone.
"This policy will likely inflate home prices and increase household debt. It will worsen inequality, providing greater benefit to people on higher incomes, while doing little to help people on low and modest incomes who are locked out of the housing market," Dr Goldie said regarding the Coalition's proposal.
The organization expressed concerns about both major parties' expansion of the Home Guarantee Scheme, warning that demand-side interventions without corresponding supply increases could further inflate housing prices. ACOSS advocates for comprehensive reform of tax settings currently incentivizing property speculation, particularly negative gearing and capital gains tax concessions.
"Instead of tinkering with people's tax returns, we need proper tax reform that includes curbing negative gearing and capital gains tax concessions that drive up home prices and inequality," stated Dr Goldie.
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