Andrew Wilkie (Clark, Independent) Share this | Link to this | Hansard source

I'm honoured to read to the chamber today a speech prepared for me by Marcus, who is a young Tasmanian and a constituent of Clark:

I am almost 18 and I would like to own a home. I love Australia, but the sad reality is that for myself and most of my generation owning a home is becoming increasingly impossible.

Gone are the days when houses cost two peanuts and a firm handshake. Today, the price of housing alone paints a grim picture for the future of our young people, and by extension the future of this country.

If the youth can't afford to live here they won't Cost of living and housing is causing immense strain on the middle class. Of the top 15 most unaffordable property markets in the world, 5 Australian capital cities are present, with Sydney being second in the world. This is ridiculous, and it can't go on.

By this point, we are no longer talking about if the Government wants a "better" future for our young people; if it wants a future for them at all, it must make a concerted effort to increase the supply of housing and to reduce the barriers that prevent this increase.

The Government must do more than tinker around the edges; they must address the underlying issues driving house prices. A better future is not one created by shrugging our shoulders; it is … created by decisive action in the best interest of this country's youth.

Now, I'd like to thank Marcus for his time and effort in writing that speech and for his reminder that parliamentarians and decision-makers must pay particular attention to young Australians. After all, it is younger Australians who have the biggest stake in the future, and we in this place surely have a duty to examine legislation, policies and decisions through the prism of their future.

I note in closing that we're on the cusp of the greatest wealth transfer in history, from baby boomers to their children, but that this transfer is likely to entrench and exacerbate inequities without careful thought and planning. That's what Marcus reminds us—that we must boldly act now to ensure the next generations can survive and prosper in this country. This must directly address the ongoing housing crisis. There are countless layers to this, but some that come straight to mind are the need to work with state and local government to increase supply, tax reform to give first home buyers a chance to compete with investors and, for those who can't or won't buy, much greater protections for renters.