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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
In mid-June 2025, the NSW Premier released the Housing and Productivity Contribution (HPC) Works-in-Kind Guideline for public consultation.
Today the State Government announced proposed changes to the regulatory powers to investigate registered builders who may be unable to meet the financial requirements of registration. The announcement also included a long-awaited review of the Home Building Contracts Act 1991 (HBCA) and associated laws.
Housing Industry Association welcomes today’s announcement by the Cook Labor Government to review key aspects of the home building contracts legislation and provide the building regulator with additional powers to work with builders in distress.
“Two cuts to the cash rate have seen the volume of detached house building approvals rise to be 3.2 per cent higher than the same month last year,” stated HIA Senior Economist Tom Devitt.