Shadow Minister for Housing, Chris Hartcher, today condemned the Labor Government for continuing to drive the NSW property market into the ground with new housing figures released today by the ABS show that new dwelling unit commencements are down  -9.4% in NSW.

“These figures show that the NSW property market is still in serious trouble”, said Chris Hartcher.

“The drop in NSW is sadly well ahead of Western Australia (+7.4%) and Queensland (-1.0%), and only marginally ahead of Victoria (-7.9%).

“The Labor Government cannot continue to deny the property crisis in NSW. Premier Rees must cut the red tape and associated taxes with new homes in NSW.

“With new dwellings decreasing and demand increasing, inflationary pressures are only going to make housing affordability more expensive and further out of reach for new home buyers and a flow-on affect is expected in the rental market as well”, Chris Hartcher said.

“Further weakening NSW home lending figures are the onerous taxes and charges imposed by NSW Labor which are forcing prospective home buyers to borrow more to pay for that new home. 

“Morris Iemma promised a ‘review’ last year and delivered nothing. Matt Brown was the Housing Minister and delivered nothing. Nathan Rees must deliver a solution to the housing crisis.

“The Premier and his Housing Minister must cut State Government taxes currently costing up to $100,000 per new block of land and cut the infrastructure and other costs imposed by the Government. Only then will housing become affordable.

“There is nowhere for Mr Rees to hide on this issue like his predecessor did. With Federal Labor and State Labor, the buck stops with them”, said Mr Hartcher.