The warning comes as the government’s plan to abolish ground rents remains missing in its leasehold reform bill, which is set to be debated in the Lords.
The Reserve Bank says households are surviving its repeated interest rate rises, but three percent of owner occupiers are now in a serious financial trouble.
‘Government has a role in building houses to help remedy the housing shortage, but it’s housing affordability that is a potential disruptor for our business.’
The Greens believed that raising the vacancy land tax could force thousands of homeowners across the state to offer their unused homes for long-term rentals.
‘The crisis is not merely one of numbers but of societal values, as the housing market becomes a fortress for the rich,’ said a report by Suburbtrends.