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“The fact that the Albanese government and the Greens have finally reached an agreement means we are a step closer to getting on with the job of supplying Australians with the housing they need,” added Ms Martin.
“The arrangements mean there is a commitment for a $10 billion investment towards the construction of at least 30,000 social and affordable housing over a five-year period. The announcement of an additional $1 billion will be invested in the National Housing Infrastructure Facility to support new homes also signals the Government’s recognition of the need to deliver homes to those who need them.
“The need for greater housing supply in Australia has become more acutely apparent in recent years.
“The rebound in immigration, acute rental shortages and tight labour markets are fuelling demand for housing across Australia, driving rents and dwelling prices ever upwards.
“It is a relief to see this important enabling legislation has passed through parliament and that the need for greater housing supply across the housing continuum is being taken seriously.
“The Australian government recently announced that it wants to see 1.2 million homes built over the five years starting July 2024, as part of its National Housing Accord.
“It is important to recognise that the commitment to supply 30,000 social and affordable homes via the Housing Australia Future Fund represents only 2.5 per cent of this aspirational target.
“The private sector will still have to do most of the heavy lifting in terms of meeting Australia’s housing needs, and it is being constrained by policy that inflates the costs of home construction and finance.
“Broader reforms are required to reduce these costs and aid the private sector in enabling the delivery of these targets:
“Without these broader reforms, the pressure on social and affordable housing will only increase, and the government’s latest announcement will prove inadequate,” concluded Ms Martin.
P: 02 6245 1379
M: 0438 103 651
E: g.murray@hia.com.au
HIA supports the NSW Government’s draft Heritage Strategy, advocating for better alignment between heritage and planning systems to support new housing development and sustainable growth across the state.
Home ownership is the bricks and mortar that has helped Australia build a stable and vibrant society, but the opportunity to own a home in Australia is a challenge.
“Construction skilled tradespeople remain in high demand, with the shortage remaining more acute than anytime pre-pandemic,” stated HIA Chief Economist, Tim Reardon.
“The NSW Housing Pattern Book could revolutionise the way we look at planning in NSW,” said Brad Armitage, HIA Executive Director NSW.