Douglas: Addressing home ownership remains untapped opportunity to boost Victoria’s fertility rate
If major parties want to rectify the state’s dismal birth rate, it’s time they considered a big reason young Aussies like me can’t even consider the prospect of starting a family.
Opinion
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Ask anyone in their 20s about their prospects of buying a house these days and stand back for the answer, because it may not be pretty.
Stories from hardworking and well-meaning Boomers of how they saved for their many properties don’t cut it anymore, because the goalposts keep shifting.
The 1970s had its own issues, sure. But currently, homeownership is further out of reach than ever before.
So, let’s look at the reality. I’m in my mid-twenties, have sizeable savings and a stable career, and still have no chance of buying my own home.
And that’s despite me choosing to waive my independence and remain at home with my parents — rent-free, I might add.
I don’t jet off on yearly winter escapes to Europe or three-month stints exploring South America. I will admit to a week-long Bali trip or two.
But splashing cash on exxy avo on toast or new clothes are rarities for me.
Yet, the goal of buying a solid-brick two-bedroom unit in the suburbs still remains out of reach.
I’m just one of thousands — if not hundreds of thousands — of young Victorians in the same boat and, as someone approaching baby age, this is a terrifying prospect.
Grim new birth rate data was released this week. It’s safe to say I was disappointed, but not surprised.
Australia’s birth rate has dropped to its lowest level ever, 1.5 births per woman. And Victoria’s rate of 1.39 births per woman — the lowest of any state — is proving to be a drag on the nation.
Premier Jacinta Allan has conceded that housing and cost-of-living are largely to blame.
Factors such as immigration and interest rates, however, mean that housing affordability, in some ways, is beyond the state’s control.
However you look at it, home ownership remains a golden opportunity — a pile of shiny political capital waiting to be seized.
Labor may be seen as the party for young mothers, with offers like free kinder and federally, increased paid parental leave, but women are increasingly looking towards independents.
And the Coalition may be offering lower taxes and expanded stamp duty concessions for first home buyers, but the party is a long way off winning over young women.
Especially when party elder Jeff Kennett makes the headlines for calling a young woman a “bitch”.
With more than half of 18-34 year olds delaying having kids due to economic conditions, it is clear that a better offer needs to be put on the table.
But the question is, who will seize the golden egg?
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