The simple reason why politicians can't be trusted to manage Australia's housing crisis Vast majority of senior politicians own investment properties Real estate veteran Michael Yardney says conflict of interest READ MORE: The big city housing market where there are still bargains By STEPHEN JOHNSON, ECONOMICS REPORTER FOR DAILY MAIL AUSTRALIA Published: 02:49 GMT, 27 December 2024 | Updated: 02:49 GMT, 27 December 2024 e-mail View comments Politicians can't be trusted to manage Australia's housing crisis because most of them boast multiple properties, an industry veteran has claimed. Michael Yardney, who founded Metropole real estate in 1979, said MPs had a vested interest in prices climbing because so many were property investors. 'The sheer number of properties owned by Australian politicians has caused some voters to question whether their leaders are out of touch with the realities the "average Aussie" faces,' he said.
'In fact, the perception of a conflict of interest can be almost as damaging as an actual conflict, eroding public trust in the government's ability to manage the housing crisis impartially.' During the past two decades, governments from both sides of politics have presided over high immigration, with the annual overseas intake tripling in the 2000s to 315,700 and last year climbing to a record-high 548,800. Australia still has an ultra-tight rental vacancy rate of 1.
4 per cent and median house prices are growing by double-digit annual figures across south.