Another option is to set up bodies similar to the defence housing one, where the body would lease properties of private investors for set terms of 1,3 and 5 years for an agreed rental.
The properties are then made avaliable to renters at a means tested level of rent with the government making up the difference. Then remove all negative gearing from property unless it is rented through one of these bodies.
This would
remove a lot of the speculative sort term buying and selling of properites due to the fixed term leases.
would control the level of rent for both investors and renters.
give renters a bit of security in the amount of rent they are paying now and will be in the future and the length of time they can stay in the property (something that is very important espcially for families) while at the same time give them the opportunity to build up savings to enter the property market them selves.
Couple this with the release of more land and the tightening up of lending practices the the regulations controlling realestate agents and mortgage brokers to something similar to the regulations controlling licensed financial advisers
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