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First Home Ownership

This inquiry report was released on 23 June 2004.

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Government response


Cover, Copyright, Letter of Transmittal, Declaration of interests, Terms of reference, Contents, Abbreviations, Key findings, Overview

1 About the inquiry
1.1 What has the Commission been asked to do?
1.2 How has the Commission approached its task?
1.3 Guide to the report

2 Are recent price and affordability trends unusual?
2.1 A snapshot of housing in Australia
2.2 How much have house prices risen?
2.3 What has happened to housing 'affordability'?
2.4 Concluding remarks

3 The role of cheaper and more accessible finance
3.1 How much cheaper is housing finance?
3.2 How has the availability of housing finance improved?
3.3 Effects on housing demand and prices
3.4 Some policy issues

4 What role for other demand-side forces?
4.1 Economic growth
4.2 Population and other demographic changes
4.3 Grants to first home buyers

5 The role of taxation
5.1 Current taxation arrangements
5.2 Housing taxation arrangements in other countries
5.3 What are the price effects of these taxes?
5.4 Improving taxation arrangements affecting housing

6 Has supply got tighter?
6.1 What is the evidence?
6.2 The supply of 'new' land
6.3 Planning approvals

7 Are infrastructure charges excessive?
7.1 Types of infrastructure and magnitude of costs
7.2 Principles and practice
7.3 Conclusions and policy implications

8 Are industry performance and building regulations appropriate?
8.1 The land development industry
8.2 The residential construction industry
8.3 Industrial relations
8.4 Skilling issues
8.5 Building regulation

9 Have prices 'overshot'?
9.1 The 'fundamentals' explain a lot
9.2 What is the evidence of 'overshooting'?
9.3 Implications for policy

10 A case for direct assistance measures?
10.1 Existing measures
10.2 Rationales for direct assistance to foster home ownership
10.3 Housing needs of low income households
10.4 Criteria for assessing assistance measures
10.5 Modifying the First Home Owner Scheme
10.6 Other possible measures to facilitate home ownership

A Public consultation
A.1 Submissions
A.2 Visits
A.3 Roundtable participants
A.4 Public hearings

B Who are the first home buyers?
B.1 Age
B.2 Household composition
B.3 Income and employment
B.4 Housing costs
B.5 Value of home purchased
B.6 Location
B.7 Dwelling characteristics