NSW Opposition Leader Peter Debnam today urged Michael Costa to adopt the NSW Liberal/Nationals housing rescue package, following reports the Treasurer is finally looking for a housing policy. 

"In my budget reply, I announced a comprehensive housing rescue package after extensive consultation with the industry," Mr Debnam said.  

"Morris Iemma and Michael Costa have stolen many of our policies before and they are more than welcome to add this one to the list," he said.

"I held several housing industry roundtable discussions in the first half of the year to listen to their concerns. While I was out listening, Morris Iemma and Michael Costa were in denial about the dire state of the NSW housing sector and economy – and their lack of action to date suggests they still are.   

"The NSW Liberal/Nationals rescue package will help first-time homebuyers enter the market, encourage greater availability of new low-cost rental properties and support the next generation of skilled workers for NSW.

"The extension of the First Home Owners Grant from $7,000 to $10,000 would provide a much needed boost to young people seeking to purchase a new home.   "This measure will help young families bridge the deposit gap and achieve the great Australian dream of owning a home.  

"The $4,000 stamp duty concession for investors buying new homes for low cost rental accommodation would run for two years from 2007/08.

"The investor concession will apply on new properties up to $500,000. This will boost investment in rental accommodation stock at the more affordable end.  

"The benefit of this initiative is two-fold – it will attract jobs and investment back to NSW, and it will increase the availability of low-cost rental accommodation easing the pressure on rents for struggling families.

"This is part of my plan to get NSW in front, and I urge Morris Iemma and Michael Costa to adopt this package before the election. If they don't, I'll put it in place straight after," Mr Debnam said.