Page 1404 - Week 05 - Wednesday, 12 May 2021
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video
require capital. We are going to source that capital principally from our superannuation funds, which stand ready to invest in this sort of long-term build-to-rent projects. The great advantage of that is that they will always be rental properties—the government can mandate that—so from a tenant’s perspective, you are not—
Mrs Jones: So whole towers?
MR BARR: Not whole towers: precincts, land releases that are all build-to-rent. The private sector have already delivered a number of them in Canberra, but we need to see more.
From a tenant’s perspective, that gives you long-term security of tenure. It will not be a situation where you find that the landlord wants the property back. Perhaps they have come back from their overseas posting, or their life circumstances have changed, and you, the tenant, are out. You get long-term certainty in a build-to-rent project. Depending on the nature of the service provision associated with it, you may get a US-style concierge service; this is a wonderful service, a very popular model in many parts of Australia now. It could be a UK-style key worker housing build-to-rent model. It could even be more supported accommodation with wraparound social service provision, similar to what we see in the community housing sector or the public housing sector.
There is the ability to offer build-to-rent in a number of different ways, but it needs to be done at scale. That is the direction the government is going in, but it is not the only policy response here. The purpose of this legislation is to see further growth in this area. But it is not the only policy response. There needs to be more. We have to move the debate beyond just rates and land tax in what has been a pretty tedious process over the last decade. We have got beyond it on light rail. We have got beyond it on debt and deficit. Maybe we can get beyond it on this issue. Time will tell.
Mr Parton: We are quite enjoying it, though.
MR BARR: Indeed. The cheap politics are too easy. I know; I understand. I have been Treasurer for a decade. I know that whacking the Treasurer every year when taxes and charges have to go up is the most popular sport. It does not matter if it is a Labor or Liberal Treasurer or whether it is here or in any other state or territory; that is how politics is played. But we want to get beyond that on some issues, and this might be one where we could.
I will conclude on this note. If we can get unanimity in support of this legislation and get behind some innovative models to increase the rental supply, that is how we will make a difference for the community that we have all been elected to serve. I commend the legislation to the Assembly.
Question resolved in the affirmative.
Leave granted to dispense with the detail stage.
Bill agreed to.
Next page . . . . Previous page . . . . Speeches . . . . Contents . . . . Debates(HTML) . . . . PDF . . . . Video