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Legislative Council - Fifty-Fifth Parliament, First Session (55-1)
2025-04-02 Daily Xml
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Housing Affordability

The Hon. L.A. HENDERSON (15:45): I rise today to speak about the housing affordability crisis in this state. We have had Labor governments in South Australia for all but four years since 2002, watching South Australia's housing unaffordability grow. Throughout this time the evident trend has been the rise of housing costs, placing a heavy burden on the dreams of South Australians. For far too long Labor governments have failed to provide effective solutions to the urgent need for affordable housing solutions. The consequences of this are impacting South Australians, who are those bearing the burden of excessive housing prices.

Without fail, housing affordability is one of the issues that people speak to me about most often when I am out and about in the community. The Advertiser reported on 17 March the alarming reality that many key workers can no longer afford to buy an entry level home in Adelaide—with key workers including teachers, electricians, shop assistants, public servants, and ambulance and police officers.

Adelaide has long been considered one of Australia's most affordable housing markets, but today that no longer seems to be the case. The Property Council's March 2025 Beyond Reach report further underscores this issue by ranking Adelaide as the second most unaffordable housing market in the country, trailing only behind Sydney when income to price ratios are considered. This paints a stark picture, with the median household income in Adelaide standing at $78,000, a figure significantly insufficient to comfortably afford new housing in multiple suburbs where the prices demand well over $150,000 in annual household earnings.

Too many families are being priced out of the suburbs. The Property Council's report also details that suburbs such as Salisbury, Munno Para, Christies Beach, Tea Tree Gully and Mount Barker remain out of reach for so many. This government has the ability to lower the cost of housing, yet we continue to hear about the housing crisis.

The Liberals believe owning your own home can be key to a better life. That is why we believe abolishing stamp duty for first-home buyers on new builds is simply not enough. This is why the Liberals believe there should be a stamp duty concession of $10,000 on existing homes too, a step in the right direction towards making home ownership more attainable in South Australia.

The great Australian dream of owning a home is rapidly becoming a distant reality for so many in our state. If home ownership is more attainable, more South Australians are empowered to have a better future. They are the everyday South Australians within our community, those who aspire to move beyond the cycle of renting and who long for a permanent place that they can call their home. It is vital that every South Australian—including young South Australians especially, who are struggling to break into this property market and who simply want to secure their piece of home ownership in this market—is given an opportunity and is given a chance.

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