An impossible triangle? The impact of housing policy on affordability, accessibility, and efficiency

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Nassios, Jason ORCID logoORCID: https://orcid.org/0000-0002-0250-2608, Giesecke, James A ORCID logoORCID: https://orcid.org/0000-0002-7283-0551 and Liu, Xianglong ORCID logoORCID: https://orcid.org/0000-0001-9437-4182 (2024) An impossible triangle? The impact of housing policy on affordability, accessibility, and efficiency. Working Paper. Victoria University, Melbourne, Australia.

Abstract

While the impact of housing-related tax instruments on economic efficiency and housing markets has been widely studied, the impact of expenditure instruments has received less attention. Housing grants, transfer duty concessions, shared equity schemes, and rental assistance, are several such expenditure instruments that generate debate regarding their efficacy in achieving housing policy aims. This study examines the impact of these instruments on the housing market. We find that each instrument addresses a specific housing policy aim, but cannot simultaneously improve affordability, accessibility, and efficiency. This finding reinforces the need for policymakers to establish clear and targeted objectives to guide housing policy choices.

Item type Monograph (Working Paper)
URI https://vuir.vu.edu.au/id/eprint/49579
Edition 1st
Official URL https://www.copsmodels.com/ftp/workpapr/G-344.pdf
ISBN 978-1-921654-53-4
Subjects Current > FOR (2020) Classification > 4407 Policy and administration
Current > Division/Research > Centre of Policy Studies (CoPS)
Keywords First homeowner grant; Shared equity; Transfer duty concession; Homeownership; Housing affordability; Housing prices; Excess burden
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Data Citation/Attribution

Jason Nassios, James Giesecke and Xianglong Locky Liu, (2024), “An impossible triangle? The impact of housing policy on affordability, accessibility, and efficiency” Centre of Policy Studies Working Paper No. G-344, Victoria University, January 2024.

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