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Housing crisis needs comprehensive response

The Australian Greens today remained reserved about the Government's plans to tackle Australia's worsening housing crisis.

"In the past decade the median house price in Australia has increased from four times average incomes to six to seven times average incomes," said Australian Greens spokesperson Senator Rachel Siewert.

"Coupled with today's interest rate hike which brings standard variable mortgage rates closer to 9 per cent, we are seeing existing and potential home buyers being priced out of the market. The savings plan announced yesterday is as the Treasurer admits a 'modest' measure. It will not solve the housing crisis for those in most need."

"We need measures to support not only those finding it difficult to buy a house but those who cannot even afford to rent. We must tackle the underlying structural issues of housing affordability in this country," she said.

"There is a clear link between the lack of stable housing and the perpetuation of intergenerational poverty. Supplying incentives for young people to save better for their first home will certainly help that demographic, but what about those without the means to save at all?"

"We look forward to the Government implementing further measures to ease Australia's housing crisis including a much needed significant increase in investment in low-cost public and community housing and a review of existing subsidies and incentives to ensure they improve access to housing for low income households."

"We need a comprehensive, in-depth approach that tackles all levels of this problem," she concluded.

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