I welcome the potential of the LDA Bill 2021 to assist in the mitigation of our housing crisis, however I have grave concerns with the Bill as it currently stands.
The primary remit of the LDA should be to provide public housing on public land considering the significant supply constraints. Its objective must be to lower rental costs and make homes affordable to those who are currently locked out of the property market, paying exorbitant rents, or living at home.
Coupled with this legislation is the Affordable Housing Bill 2020, which provides the mechanisms to pursue the creation of sustainable communities through cost-rental, social, and affordable purchase homes on public land.
The delivery cost-rental is monumental step in my opinion, which will offer an affordable, high-quality rental model akin to the Vienna model. However, in order for rent prices to drop, we need significant delivery of cost-rental units. This will take time but the initial delivery of 400 units this year is a step in the right direction.
The Affordable Housing Bill 2021 and Land Development Agency Bill is not yet finalised nor finished scrutiny and debate. I look forward to further engaging and debating these Bills.