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One of the most basic human needs is shelter. Beyond just survival, it allows individuals and families the ability to participate in the community and economy to their best ability.
Across almost every housing metric the ACT is failing.
Owner occupied housing in the ACT is at its least affordable in decades. It now requires over 1.7 average incomes to service the mortgage on a median priced dwelling.
Rental vacancy rates in Canberra sit at 1.6%, almost half the accepted level of a healthy rental market, increasing competition for renters and putting upward pressure on rents.
The number of detached houses commencing construction in the ACT is sitting 42.0% below the decade average and is the lowest since records started in 1980.
The renovations sector recorded its equal weakest quarter in 15 years, sitting 23.6% below the decade average.
Despite the commitment of the Territory to prioritise infill development, in 2022/23 multi-residential dwelling starts fell by 34% from the previous year and in 2023/24 the ACT will build the lowest number of apartments since 2014/15.
The private housing market has been squeezed by a lack of shovel ready land, and an explosion in regulation, red tape, and taxation. Yet, at the same time as the private construction and rental sectors are constrained, there has been a failure of government to meet its obligations for public housing.
In 2012 there were 11,846 properties in the public housing stock compared to 11,612 today. This represents a reduction of 234 dwellings, while the population of the Territory has increased by almost 70,000. As of 1 January 2024 the waiting time for priority housing was 256 days. For those that meet the basic eligibility criteria for social housing is three times the national average at 1,946 days.
The ACT has a housing emergency. To do nothing other than continue with the status quo is not an option.
HIA’s policy priorities for the next ACT Legislative Assembly aim to address the challenges facing housing in the ACT and work to deliver more homes in a timely and affordable way.
One of the main impediments to housing delivery in the ACT is the fragmented approach across numerous government agencies.
The number of detached houses commencing construction is
42%
below the decade average.
A median-priced mortgage takes
1.7
average incomes to service.
The rental vacancy rate in Canberra is
1.6%
almost half the level of a healthy rental market.
HIA is requesting that an incoming government addresses six key policy areas
ACT/Southern NSW
Suite 4, 9 Sydney Avenue
Barton ACT 2600
Authorised by Jocelyn Martin, HIA Managing Director.