A new book aims to fix housing affordability, but there's better solution for Victoria
The new book by US-based journalists Derek Thompson and Ezra Klein calls for deregulation to ease supply-side restrictions on housing and other vital industries to make houses (as well as healthcare and clean energy) more affordable, accessible and abundant. It doesn't deviate from conventional economic wisdom in this regard, and it's been widely read in Canberra. Its ideas are likely to be part of the discussion at next month's productivity summit.
Australia's political system already has a neoliberal consensus; there is bipartisan support to grow the economy by making it easier for corporations to do business and for capital to flow. This same logic is already applied to the housing market, visible in our recent preference for supply-side solutions.
One key area where Thompson and Klein hit the nail on the head, however, is the negative effect that restrictive zoning has on housing supply. Victoria has been building more new homes per person than NSW for years, but, like much of Australia, it still faces challenges from local councils to promote infill development and improve housing access in inner Melbourne.
It's against this backdrop that the latest house price figures were released on Thursday. Victoria's affordability achievement was modest; house prices in Melbourne are 2.7 per cent below their December 2021 peak on Domain data, but remain unaffordable to most. Melbourne's median is $1,064,000, Sydney's is $1,722,000, and Brisbane's $1,060,000. However, lending data show first home buyers made use of the 3½-year window to purchase.
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'It was good, it has to be seen as good, prices did come down a bit,' AMP chief economist Dr Shane Oliver says.
'That would have provided some opportunities for first home buyers that they wouldn't have otherwise had.
'But affordability is still relatively poor in Victoria, it's just not as bad as some other places – Sydney, Brisbane and even Adelaide.'
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The Advertiser
41 minutes ago
- The Advertiser
AUKUS and Palestine tensions flare within Labor
Victorian Labor has voted to act against "military occupation, siege and genocide" in Palestine and suspend Australia's participation in the three-nation AUKUS defence agreement. While non-binding on the state or federal government, the grassroots motions passed at the party's state conference in Melbourne on Saturday highlight tensions on international policy within the Labor movement. Two successful AUKUS motions included calling for an inquiry into the defence agreement, suspending Australia's participation in it and urging a federal government review into its ongoing participation. The vote to "act against military occupation, siege and genocide" in Palestine was passed with strong support and to a standing ovation from some members of the Moonee Valley Racecourse audience after unsuccessful amendments to change the wording. The motion called for immediate recognition of a Palestinian state, comprehensive sanctions on members of Israel's Netanyahu government and improved military trade transparency and tracking laws. A similar resolution on Palestine passed at the state conference in 2024 after the terror attack on Israel by Hamas on October 7, 2023, and the nation's subsequent military campaign in Gaza. Labor's official platform backs Palestinian statehood but Prime Minister Anthony Albanese has not set a timeline for implementing the policy and recently declared it not imminent. Premier Jacinta Allan said Victoria's policy was to follow the federal government and stressed the importance of a strong defence industry for national protection. Friction within the party over the Middle East flared earlier in the day when a handful of members staged a silent protest against Deputy Prime Minister Richard Marles, which involved them holding up images of Palestinian flags on phones and devices. During his address, Mr Marles thanked the crowd for helping secure a thumping federal election win and increased seats in Victoria, while Ms Allan's speech was firmly focused on the 2026 state election. She promoted her newly unveiled plan to legalise the right to work from home while ramping up language favoured by Labor leaders, including referring to the opposition as "Tories" and "just Liberals". Housing Minister Clare O'Neil, Transport Minister Catherine King and Skills Minister Andrew Giles were among the federal MPs to join state colleagues, party members and union officials at the gathering. A coalition of several dozen activists marched the area outside the racecourse, opposing the "genocide in Gaza", forced administration of the CFMEU and incoming state protest laws. Police were on standby and security was heightened for the event after pro-Palestine protesters stormed the venue in 2024, with attendees this year forced to show tickets multiple times and tarps used to shield public view. The 2024 security breach led to the conference floor being locked down and delayed speeches by Mr Albanese and Ms Allan. Mr Albanese didn't attend in person this year, instead heading to the Garma Festival in the Northern Territory's remote Arnhem Land. Victorian Labor has voted to act against "military occupation, siege and genocide" in Palestine and suspend Australia's participation in the three-nation AUKUS defence agreement. While non-binding on the state or federal government, the grassroots motions passed at the party's state conference in Melbourne on Saturday highlight tensions on international policy within the Labor movement. Two successful AUKUS motions included calling for an inquiry into the defence agreement, suspending Australia's participation in it and urging a federal government review into its ongoing participation. The vote to "act against military occupation, siege and genocide" in Palestine was passed with strong support and to a standing ovation from some members of the Moonee Valley Racecourse audience after unsuccessful amendments to change the wording. The motion called for immediate recognition of a Palestinian state, comprehensive sanctions on members of Israel's Netanyahu government and improved military trade transparency and tracking laws. A similar resolution on Palestine passed at the state conference in 2024 after the terror attack on Israel by Hamas on October 7, 2023, and the nation's subsequent military campaign in Gaza. Labor's official platform backs Palestinian statehood but Prime Minister Anthony Albanese has not set a timeline for implementing the policy and recently declared it not imminent. Premier Jacinta Allan said Victoria's policy was to follow the federal government and stressed the importance of a strong defence industry for national protection. Friction within the party over the Middle East flared earlier in the day when a handful of members staged a silent protest against Deputy Prime Minister Richard Marles, which involved them holding up images of Palestinian flags on phones and devices. During his address, Mr Marles thanked the crowd for helping secure a thumping federal election win and increased seats in Victoria, while Ms Allan's speech was firmly focused on the 2026 state election. She promoted her newly unveiled plan to legalise the right to work from home while ramping up language favoured by Labor leaders, including referring to the opposition as "Tories" and "just Liberals". Housing Minister Clare O'Neil, Transport Minister Catherine King and Skills Minister Andrew Giles were among the federal MPs to join state colleagues, party members and union officials at the gathering. A coalition of several dozen activists marched the area outside the racecourse, opposing the "genocide in Gaza", forced administration of the CFMEU and incoming state protest laws. Police were on standby and security was heightened for the event after pro-Palestine protesters stormed the venue in 2024, with attendees this year forced to show tickets multiple times and tarps used to shield public view. The 2024 security breach led to the conference floor being locked down and delayed speeches by Mr Albanese and Ms Allan. Mr Albanese didn't attend in person this year, instead heading to the Garma Festival in the Northern Territory's remote Arnhem Land. Victorian Labor has voted to act against "military occupation, siege and genocide" in Palestine and suspend Australia's participation in the three-nation AUKUS defence agreement. While non-binding on the state or federal government, the grassroots motions passed at the party's state conference in Melbourne on Saturday highlight tensions on international policy within the Labor movement. Two successful AUKUS motions included calling for an inquiry into the defence agreement, suspending Australia's participation in it and urging a federal government review into its ongoing participation. The vote to "act against military occupation, siege and genocide" in Palestine was passed with strong support and to a standing ovation from some members of the Moonee Valley Racecourse audience after unsuccessful amendments to change the wording. The motion called for immediate recognition of a Palestinian state, comprehensive sanctions on members of Israel's Netanyahu government and improved military trade transparency and tracking laws. A similar resolution on Palestine passed at the state conference in 2024 after the terror attack on Israel by Hamas on October 7, 2023, and the nation's subsequent military campaign in Gaza. Labor's official platform backs Palestinian statehood but Prime Minister Anthony Albanese has not set a timeline for implementing the policy and recently declared it not imminent. Premier Jacinta Allan said Victoria's policy was to follow the federal government and stressed the importance of a strong defence industry for national protection. Friction within the party over the Middle East flared earlier in the day when a handful of members staged a silent protest against Deputy Prime Minister Richard Marles, which involved them holding up images of Palestinian flags on phones and devices. During his address, Mr Marles thanked the crowd for helping secure a thumping federal election win and increased seats in Victoria, while Ms Allan's speech was firmly focused on the 2026 state election. She promoted her newly unveiled plan to legalise the right to work from home while ramping up language favoured by Labor leaders, including referring to the opposition as "Tories" and "just Liberals". Housing Minister Clare O'Neil, Transport Minister Catherine King and Skills Minister Andrew Giles were among the federal MPs to join state colleagues, party members and union officials at the gathering. A coalition of several dozen activists marched the area outside the racecourse, opposing the "genocide in Gaza", forced administration of the CFMEU and incoming state protest laws. Police were on standby and security was heightened for the event after pro-Palestine protesters stormed the venue in 2024, with attendees this year forced to show tickets multiple times and tarps used to shield public view. The 2024 security breach led to the conference floor being locked down and delayed speeches by Mr Albanese and Ms Allan. Mr Albanese didn't attend in person this year, instead heading to the Garma Festival in the Northern Territory's remote Arnhem Land. Victorian Labor has voted to act against "military occupation, siege and genocide" in Palestine and suspend Australia's participation in the three-nation AUKUS defence agreement. While non-binding on the state or federal government, the grassroots motions passed at the party's state conference in Melbourne on Saturday highlight tensions on international policy within the Labor movement. Two successful AUKUS motions included calling for an inquiry into the defence agreement, suspending Australia's participation in it and urging a federal government review into its ongoing participation. The vote to "act against military occupation, siege and genocide" in Palestine was passed with strong support and to a standing ovation from some members of the Moonee Valley Racecourse audience after unsuccessful amendments to change the wording. The motion called for immediate recognition of a Palestinian state, comprehensive sanctions on members of Israel's Netanyahu government and improved military trade transparency and tracking laws. A similar resolution on Palestine passed at the state conference in 2024 after the terror attack on Israel by Hamas on October 7, 2023, and the nation's subsequent military campaign in Gaza. Labor's official platform backs Palestinian statehood but Prime Minister Anthony Albanese has not set a timeline for implementing the policy and recently declared it not imminent. Premier Jacinta Allan said Victoria's policy was to follow the federal government and stressed the importance of a strong defence industry for national protection. Friction within the party over the Middle East flared earlier in the day when a handful of members staged a silent protest against Deputy Prime Minister Richard Marles, which involved them holding up images of Palestinian flags on phones and devices. During his address, Mr Marles thanked the crowd for helping secure a thumping federal election win and increased seats in Victoria, while Ms Allan's speech was firmly focused on the 2026 state election. She promoted her newly unveiled plan to legalise the right to work from home while ramping up language favoured by Labor leaders, including referring to the opposition as "Tories" and "just Liberals". Housing Minister Clare O'Neil, Transport Minister Catherine King and Skills Minister Andrew Giles were among the federal MPs to join state colleagues, party members and union officials at the gathering. A coalition of several dozen activists marched the area outside the racecourse, opposing the "genocide in Gaza", forced administration of the CFMEU and incoming state protest laws. Police were on standby and security was heightened for the event after pro-Palestine protesters stormed the venue in 2024, with attendees this year forced to show tickets multiple times and tarps used to shield public view. The 2024 security breach led to the conference floor being locked down and delayed speeches by Mr Albanese and Ms Allan. Mr Albanese didn't attend in person this year, instead heading to the Garma Festival in the Northern Territory's remote Arnhem Land.
The Advertiser
42 minutes ago
- The Advertiser
PM lays out economic path to Indigenous empowerment
While some welcome the prime minister's focus on economic empowerment of Aboriginal and Torres Strait Islander people, others brand it a further step from truth-telling. Anthony Albanese has used his address at the Garma Festival in northeast Arnhem Land to unveil an economic partnership with the Coalition of Peaks and First Nations Economic Empowerment Alliance. "This builds on our commitment to the Closing the Gap Agreement, to its call for a new way of doing business and to the principle of shared decision-making," he told the festival audience at Gulkula in the Northern Territory on Saturday. The approach will allow traditional owners to advocate for infrastructure, housing and energy projects on their land and build equity beyond the land itself. Coalition of Peaks lead convener Pat Turner said the partnership was about putting Indigenous communities in control of their economic future."Aboriginal and Torres Strait Islander people have been clear for decades that our community-controlled organisations are the best employers of our people, providing the foundation for our economic development," she said. Addressing the crowd at Garma, Yolngu leader and chair of the Yothu Yindi Foundation Djawa Yunupingu said he wanted a real economy for his people. "We intend to use our lands and waters for our own future and the future of our children, and the future of our nation," he said. Mr Albanese also announced $70 million for Indigenous clean energy projects, $31 million for a mobile TAFE program and $75 million for native title reform under the partnership. National Native Title Council chief executive Jamie Lowe said this funding showed the government was serious about supporting traditional owners. "Investing in the native title sector is game-changing," he said. "This injection of capacity will mean more jobs, more opportunities for young people and stronger protection for our cultural heritage." While some organisations met the prime minister's announcement with praise, Aunty Glendra Stubbs, the elder in residence at community legal centre Knowmore, expressed disappointment in a lack of any mention of truth-telling. The government backed away from its commitment to Makarrata in 2024 and though he acknowledged the work of the Victorian truth-telling inquiry Yoorrook, Mr Albanese made no mention of a national process in his address. Aunty Glendra said it hurt to see truth-telling missing from the conversation. "Our people have been asking for this for generations," she said. "Without truth, the pain of colonisation remains open - generation after generation. "We can't heal what we won't name." Victorian senator Lidia Thorpe said it was time for Mr Albanese to recommit to federal truth-telling and treaty. "Cash for the corporations and a few utes are crumbs on the table while so many of our people are dying in custody and governments continue to steal and jail our children at record rates," she said. Garma is marking its 25th festival and Mr Yunupingu acknowledged those who started it in 1999 - his brothers - and the festival's roots in promises of treaty, which were "washed down" by governments of the past but never forgotten. Mr Yunupingu said he felt the disappointment again at the result of the voice referendum in 2023. "We talked about it last year, we shed a tear to that and now it's behind us," he said, speaking about Mr Albanese's visit to Garma in 2024. "Even though we live with shattered dreams, we must keep looking to the future." 13YARN 13 92 76 Lifeline 13 11 14 While some welcome the prime minister's focus on economic empowerment of Aboriginal and Torres Strait Islander people, others brand it a further step from truth-telling. Anthony Albanese has used his address at the Garma Festival in northeast Arnhem Land to unveil an economic partnership with the Coalition of Peaks and First Nations Economic Empowerment Alliance. "This builds on our commitment to the Closing the Gap Agreement, to its call for a new way of doing business and to the principle of shared decision-making," he told the festival audience at Gulkula in the Northern Territory on Saturday. The approach will allow traditional owners to advocate for infrastructure, housing and energy projects on their land and build equity beyond the land itself. Coalition of Peaks lead convener Pat Turner said the partnership was about putting Indigenous communities in control of their economic future."Aboriginal and Torres Strait Islander people have been clear for decades that our community-controlled organisations are the best employers of our people, providing the foundation for our economic development," she said. Addressing the crowd at Garma, Yolngu leader and chair of the Yothu Yindi Foundation Djawa Yunupingu said he wanted a real economy for his people. "We intend to use our lands and waters for our own future and the future of our children, and the future of our nation," he said. Mr Albanese also announced $70 million for Indigenous clean energy projects, $31 million for a mobile TAFE program and $75 million for native title reform under the partnership. National Native Title Council chief executive Jamie Lowe said this funding showed the government was serious about supporting traditional owners. "Investing in the native title sector is game-changing," he said. "This injection of capacity will mean more jobs, more opportunities for young people and stronger protection for our cultural heritage." While some organisations met the prime minister's announcement with praise, Aunty Glendra Stubbs, the elder in residence at community legal centre Knowmore, expressed disappointment in a lack of any mention of truth-telling. The government backed away from its commitment to Makarrata in 2024 and though he acknowledged the work of the Victorian truth-telling inquiry Yoorrook, Mr Albanese made no mention of a national process in his address. Aunty Glendra said it hurt to see truth-telling missing from the conversation. "Our people have been asking for this for generations," she said. "Without truth, the pain of colonisation remains open - generation after generation. "We can't heal what we won't name." Victorian senator Lidia Thorpe said it was time for Mr Albanese to recommit to federal truth-telling and treaty. "Cash for the corporations and a few utes are crumbs on the table while so many of our people are dying in custody and governments continue to steal and jail our children at record rates," she said. Garma is marking its 25th festival and Mr Yunupingu acknowledged those who started it in 1999 - his brothers - and the festival's roots in promises of treaty, which were "washed down" by governments of the past but never forgotten. Mr Yunupingu said he felt the disappointment again at the result of the voice referendum in 2023. "We talked about it last year, we shed a tear to that and now it's behind us," he said, speaking about Mr Albanese's visit to Garma in 2024. "Even though we live with shattered dreams, we must keep looking to the future." 13YARN 13 92 76 Lifeline 13 11 14 While some welcome the prime minister's focus on economic empowerment of Aboriginal and Torres Strait Islander people, others brand it a further step from truth-telling. Anthony Albanese has used his address at the Garma Festival in northeast Arnhem Land to unveil an economic partnership with the Coalition of Peaks and First Nations Economic Empowerment Alliance. "This builds on our commitment to the Closing the Gap Agreement, to its call for a new way of doing business and to the principle of shared decision-making," he told the festival audience at Gulkula in the Northern Territory on Saturday. The approach will allow traditional owners to advocate for infrastructure, housing and energy projects on their land and build equity beyond the land itself. Coalition of Peaks lead convener Pat Turner said the partnership was about putting Indigenous communities in control of their economic future."Aboriginal and Torres Strait Islander people have been clear for decades that our community-controlled organisations are the best employers of our people, providing the foundation for our economic development," she said. Addressing the crowd at Garma, Yolngu leader and chair of the Yothu Yindi Foundation Djawa Yunupingu said he wanted a real economy for his people. "We intend to use our lands and waters for our own future and the future of our children, and the future of our nation," he said. Mr Albanese also announced $70 million for Indigenous clean energy projects, $31 million for a mobile TAFE program and $75 million for native title reform under the partnership. National Native Title Council chief executive Jamie Lowe said this funding showed the government was serious about supporting traditional owners. "Investing in the native title sector is game-changing," he said. "This injection of capacity will mean more jobs, more opportunities for young people and stronger protection for our cultural heritage." While some organisations met the prime minister's announcement with praise, Aunty Glendra Stubbs, the elder in residence at community legal centre Knowmore, expressed disappointment in a lack of any mention of truth-telling. The government backed away from its commitment to Makarrata in 2024 and though he acknowledged the work of the Victorian truth-telling inquiry Yoorrook, Mr Albanese made no mention of a national process in his address. Aunty Glendra said it hurt to see truth-telling missing from the conversation. "Our people have been asking for this for generations," she said. "Without truth, the pain of colonisation remains open - generation after generation. "We can't heal what we won't name." Victorian senator Lidia Thorpe said it was time for Mr Albanese to recommit to federal truth-telling and treaty. "Cash for the corporations and a few utes are crumbs on the table while so many of our people are dying in custody and governments continue to steal and jail our children at record rates," she said. Garma is marking its 25th festival and Mr Yunupingu acknowledged those who started it in 1999 - his brothers - and the festival's roots in promises of treaty, which were "washed down" by governments of the past but never forgotten. Mr Yunupingu said he felt the disappointment again at the result of the voice referendum in 2023. "We talked about it last year, we shed a tear to that and now it's behind us," he said, speaking about Mr Albanese's visit to Garma in 2024. "Even though we live with shattered dreams, we must keep looking to the future." 13YARN 13 92 76 Lifeline 13 11 14 While some welcome the prime minister's focus on economic empowerment of Aboriginal and Torres Strait Islander people, others brand it a further step from truth-telling. Anthony Albanese has used his address at the Garma Festival in northeast Arnhem Land to unveil an economic partnership with the Coalition of Peaks and First Nations Economic Empowerment Alliance. "This builds on our commitment to the Closing the Gap Agreement, to its call for a new way of doing business and to the principle of shared decision-making," he told the festival audience at Gulkula in the Northern Territory on Saturday. The approach will allow traditional owners to advocate for infrastructure, housing and energy projects on their land and build equity beyond the land itself. Coalition of Peaks lead convener Pat Turner said the partnership was about putting Indigenous communities in control of their economic future."Aboriginal and Torres Strait Islander people have been clear for decades that our community-controlled organisations are the best employers of our people, providing the foundation for our economic development," she said. Addressing the crowd at Garma, Yolngu leader and chair of the Yothu Yindi Foundation Djawa Yunupingu said he wanted a real economy for his people. "We intend to use our lands and waters for our own future and the future of our children, and the future of our nation," he said. Mr Albanese also announced $70 million for Indigenous clean energy projects, $31 million for a mobile TAFE program and $75 million for native title reform under the partnership. National Native Title Council chief executive Jamie Lowe said this funding showed the government was serious about supporting traditional owners. "Investing in the native title sector is game-changing," he said. "This injection of capacity will mean more jobs, more opportunities for young people and stronger protection for our cultural heritage." While some organisations met the prime minister's announcement with praise, Aunty Glendra Stubbs, the elder in residence at community legal centre Knowmore, expressed disappointment in a lack of any mention of truth-telling. The government backed away from its commitment to Makarrata in 2024 and though he acknowledged the work of the Victorian truth-telling inquiry Yoorrook, Mr Albanese made no mention of a national process in his address. Aunty Glendra said it hurt to see truth-telling missing from the conversation. "Our people have been asking for this for generations," she said. "Without truth, the pain of colonisation remains open - generation after generation. "We can't heal what we won't name." Victorian senator Lidia Thorpe said it was time for Mr Albanese to recommit to federal truth-telling and treaty. "Cash for the corporations and a few utes are crumbs on the table while so many of our people are dying in custody and governments continue to steal and jail our children at record rates," she said. Garma is marking its 25th festival and Mr Yunupingu acknowledged those who started it in 1999 - his brothers - and the festival's roots in promises of treaty, which were "washed down" by governments of the past but never forgotten. Mr Yunupingu said he felt the disappointment again at the result of the voice referendum in 2023. "We talked about it last year, we shed a tear to that and now it's behind us," he said, speaking about Mr Albanese's visit to Garma in 2024. "Even though we live with shattered dreams, we must keep looking to the future." 13YARN 13 92 76 Lifeline 13 11 14
7NEWS
2 hours ago
- 7NEWS
Working from home could be a legal right for millions of Aussies under new plan
A state government has revealed plans to enshrine the right to work from home for both public and private-sector employees. The premier behind the Australian-first push hails its as the next frontier in worker rights that would benefit working parents. However a legal right to work from home would be divisive and likely send jobs elsewhere, business groups say. The Victorian government has promised to introduce legislation in 2026 for the right to work from home on two days per week, in contrast to other states that want public servants to spend more time in the office. The proposed law would apply to all public and private sector employees in Victoria who can reasonably do their job from home. Details are yet to be worked through and Premier Jacinta Allan signalled the changes could come into effect under Victoria's Equal Opportunity Act, as private workplaces are regulated by federal laws. Allan promoted the plan as beneficial to both the economy and families, likening it to other significant workplace changes in recent decades including more women entering the workforce. 'There's been many, many gains over many, many generations that have supported women's opportunity to increase their workforce participation, this is just another important, big step,' she told reporters. Issues such as the definition of remote work, who can do it, how it would affect part-time workers and the types of businesses to which the law would apply, will be figured out through a consultation process. Allan said the decision had gone through cabinet and brushed off suggestions it could trigger a court challenge. The plan drew sharp criticism from business groups, with Australian Industry Group Victorian head Tim Piper describing it as serious government overreach that undermines business autonomy. He described it as 'pure political theatre' designed to wedge the opposition while also running counter to both global trends and business best practice. 'These policies foster an 'us versus them' dynamic, privileging some white-collar workers while leaving blue-collar employees with no choice,' he said. 'It's divisive, disruptive, and dangerous.' Victorian Chamber of Commerce and Industry chief executive Paul Guerra claimed businesses would move interstate and jobs would be lost if Victoria moved away from the legislated national system. '(Work from home) certainly works well in some contexts, but that should be determined by the employer in consultation with the employee,' he said. Allan promised to introduce the law in 2026 prior to the state election. Polls indicate Labor is on track to win a fourth term but the November 2026 poll will be the first as premier for Allan, who lags opposition leader Brad Battin as preferred state leader. Battin said working from home was a valuable option for many workers and families. 'We support measures that help Victorians enjoy a better work-life balance, and will review any legislation closely, to ensure it supports flexibility, productivity and personal choice,' he said. The federal coalition's push to end to working-from-home for public servants was partly blamed for its unsuccessful result at the May federal election, despite abandoning the policy before polling day. NSW Premier Chris Minns has described remote-work provisions as a thing of the past but stopped short of seeking an end to working from home, instead ordering public servants to work principally in offices. More than one third of Australian employees usually work from home but that number swells to 60 per cent of managers and people in professional services, according to the Australian Bureau of Statistics. The bureau says 43 per cent who work from home do overtime, compared to one quarter of those who do not.
