Berejiklian appoints former RBA-head Glenn Stevens to tackle housing affordability

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Feb 16, 2017

Berejiklian appoints former RBA-head Glenn Stevens to tackle housing affordability

Premier Gladys Berejiklian has appointed former Reserve Bank head Glenn Stevens to lead a review of housing affordability in New South Wales.

Image: ABC News.

Former governor of the RBA, Glenn Stevens, will lead a cross-government review of housing affordability for the Berejiklian government.

When she first took up her new role, New South Wales premier Gladys Berejiklian said housing affordability would be a top priority of her government.

She has now appointed former Reserve Bank governor Glenn Stevens to lead a review of housing affordability.

Berejiklian said the cross-government working group will focus on ways to help first-time home owners get into the market.

"I've asked him to provide advice on all the options that we are considering already as a Government on this very important public issue and I believe there is no-one better qualified to undertake this very important task," Berejiklian said.

The appointment raises the question of whether Berejiklian will push the federal government for changes to negative gearing.

When Stevens was governor of the central bank, he told a parliamentary inquiry “there is a case for reviewing negative gearing, but not in isolation”.

Stevens said yesterday, “Housing affordability is a growing challenge for many residents of NSW and I look forward to working with the government on measures that might help address it.”

The latest CoreLogic Daily Home Value index shows that Sydney dwelling prices rose 16 per cent in the year ending 31 January. The median Sydney dwelling price sat at $1,066,000, which compares with $870,000 in Melbourne, and $550,000 in Brisbane.