Dr. Michael Byrne:

The answers are "Yes" and "Yes". Cost-rental is a new sector. It will face many challenges, especially in respect of viability because the interest rate environment and cost environment are deteriorating. There are viability challenges but what we see internationally is that countries and especially cities that have a significant non-market segment tend to have more stable housing systems. That is clear. There is widespread support for cost-rental, which is great to see.

Assisting people to purchase can also play an important role. The trick is to recognise that it is also a demand subsidy. The challenge is to increase access to home ownership without inflating demand or generating risk in the financial system by burdening households with risky debt. It is not easy but it is doable to introduce supports for home ownership which are more widespread than those that currently exist and which meet those two challenges.