Eliza Owen

speaker

379 appearances 2 recordings 1 series first heard Nov 2024 last heard May 2025

Eliza Owen’s voice in public audio — every appearance, attributed to the second.

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NAB Morning Call · Weekend Edition: Has affordability finally hit home price growth? · 1 Nov 2024 podcast

Um and it's really only in WA that you're seeing new house approvals consistently rise.

But it is remarkable because the the one thing we need is more housing supply to help bring prices down.

But in reality, property prices probably need to be higher in order for the private sector to deliver that additional supply.

Yeah, about about thirty percent.

So thirty two percent.

Well, they've probably risen by a similar amount.

But on top of that you're seeing a little bit of a reacceleration in house price construction because of uh wages pressures essentially, because those construction workers need their wages to go up uh to to keep up with the higher cost of living as well.

I think that's right.

Um, because the money that doesn't go towards stamp duty can then be used in the purchasing power of the the actual um property.

Yeah, because the what sets

Exactly.

And then perhaps a bit

And and the other issue with the scheme is its design.

So it's unlimited in its availability.

Um, any type of buyer can get access to it, but it's only available for a 12 month period.

So what that usually does, as we saw with Home Builder, as we saw um back in two thousand and eight, two thousand nine with the temporary boost to the first homeowners grant.

Is that that design of policy creates an urgency in purchases and it brings forward purchases.

So what you're doing is concentrating demand under the period of the scheme and that adds volatility to the property cycle.

It adds volatility to the construction cycle, as we saw with home builder.

You might get a temporary surge in demand, but then you're gonna have an even harder landing once the scheme ends.

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