The 1950 housing headline that is still relevant in NSW 76 years later
Sydney Morning Herald
by Alexandra SmithFebruary 23, 2026
AI-Generated Deep Dive Summary
NSW Liberal Leader Kellie Sloane has issued a strong call to action for her party to focus on bold housing policies ahead of next year’s state election, warning that history is repeating itself with Labor failing to meet its housing targets. In a speech at the Robert Menzies Institute, Sloane drew parallels between the current housing crisis and one from nearly 80 years ago, highlighting how both eras saw significant under-delivery on promised housing numbers. She emphasized that unless the Coalition prioritizes home ownership and addresses rising construction costs, it risks becoming the "natural party of opposition."
Sloane pointed to historical data showing that between 1939 and 1949, Sydney experienced a 150% surge in building costs, driven by migration and economic shifts. Similarly, today’s housing affordability challenges are compounded by high construction expenses, with costs rising 80% over the past decade. She also criticized Labor for falling short of its National Housing Accord targets, noting that NSW is lagging behind by 41%, compared to Victoria’s 8.1% shortfall. Despite a recent spike in housing approvals, reaching nearly 52,000 annually—a figure not seen since May 2023—the Urban Development Institute of Australia warns this is still insufficient to meet the state’s 2029 target of 377,000 new homes.
To address these issues, Sloane proposed practical solutions, including reintroducing a choice for first home buyers to pay upfront stamp duty or an annual land tax. She also plans to freeze NSW Labor’s housing productivity contribution charge on new homes at $12,000 until mid-2029 and incentivize downsizing by offering a stamp duty exemption for empty nesters. These measures aim to boost home ownership rates and alleviate the pressure on young Australians struggling to enter the property market.
Sloane stressed that the Liberal Party cannot rely solely on its historical legacy of promoting home ownership, as seen under leaders like Menzies or Howard. She urged her party to renew its commitment to growing housing supply, emphasizing that failure to act could result in irrelevance. By drawing parallels between past and present, Sloane has positioned the housing crisis as a defining issue for the upcoming election, underscoring the urgent need for innovative policies to tackle affordability and supply challenges.
This issue is not just local but has global relevance, as housing crises increasingly dominate political agendas worldwide. Sloane’s speech highlights the importance of bold policy decisions in addressing systemic issues that have plagued Australia’s housing market for decades.
Verticals
worldaustralia
Originally published on Sydney Morning Herald on 2/23/2026