This is a step towards solving Sydney’s current housing affordability crisis, which has implications for most if not all of Sydney’s inhabitants. If more people can establish stable home ownership, there will be less competition among them to bid for houses, and this will cool down the housing market, although this also depends on the State Government bringing in new stock as part of our overall ask. Also it will reduce overall demand in the rental market, thereby pushing rental prices down.
Overall, when combined with a supply-side strategy, the creation of intermediate tenure forms makes stable long-term housing available to more households. The provision of long-term, stable housing is a core component of social justice, with impacts shown in health, employment and education outcomes.