A policy proposal for affordable homeownership in New South Wales

This research project addresses the problem of homeownership in New South Wales arising from the decline in the homeownership rate among younger households as identified by Yates (2007). Guided by the concept of Mode-2 knowledge production (Gibbons et al 1994; Graham 2003; Nowotny 2001), this research takes a problem-solving approach and derives an alternative model of affordable housing development that might increase homeownership in New South Wales. Two research stages are posited involving qualitative research of case studies relevant to Singapore, New Zealand, Hong Kong, the United Kingdom and the United States of America to deliver an alternative policy model for affordable homeownership.

Following an examination of national and international trends derived from the case studies of the five selected countries, the research project concludes that, while the nature and extent of homeownership affordability of a nation are largely products of political, economic, cultural environments, the underlying factors that give rise to affordability problems are often analogous and that no matter how advanced a society becomes, the provision of affordable homeownership is indispensable.

The alternative policy proposed in this research project advocates the adoption of universal provision of private homeownership in New South Wales through public housing. The recommended policy comprises fifteen key elements and the research project concludes that, as the capitalist free market has failed to provide affordable homeownership for the long term, the case for substantive state-intervention of the type the policy proposes is urgent.