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{{propApi.successMessage}} {{region}} Change locationState of the Housing System Report
State of the Housing System Report
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The National Housing Supply and Affordability Council released their “State of the Housing System” report in Sydney today.
“The Report includes forecasts of housing demand that fall significantly short of what is required. The underestimating of demand is one of the reasons local councils have continually under-supplied land for development over recent decades.
“Success however, isn’t in meeting forecasts set out in a report, but in ensuring that rental price growth, and house price growth are constrained. This will require all tiers of government to work toward increasing supply of housing to ensure that rental properties are more readily available in the future.
“Success is a rental vacancy rate above 3 per cent in every local council across the economy.
“The acute shortage of housing stock has led to rental vacancy rates across the country approaching zero. This leads to very inequitable outcomes.
“Policy initiatives outlined in the report, however, are warranted.
“The ten areas that can improve housing outcomes listed in the report include positive initiatives to increase public housing stock, improving land use and planning systems, boosting building capacity and improving the quality of housing data.
“Increasing housing supply to meet underlying demand will require the Government to achieve their goal of building 1.2 million homes and continuing to grow the volume of home completions thereafter.
“Reliable data on the availability of developable land is necessary to improve the supply of new homes. The lack of this data is one of the systemic failures of the current housing system.
“The availability of skilled labour is constraining housing supply in 2024, especially for apartments in capital cities, where the demands from new migrants is most acute.
“Proposals to impose performance-based outcomes on local councils is a necessary step for the Australian government to force the increase in the supply of new homes.
“In addition to these proposals, taxation of homes results in fewer new homes being built. Governments of all tiers can increase the supply of housing by lowering the taxes, fees, charges and restrictions on new homes,” concluded Mr Reardon.
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A plan for land is a plan for housing
“Adelaide, Brisbane and Perth are seeing residential land values grow at a rapid rate, while Sydney and Melbourne’s values remain relatively stable,” stated HIA Senior Economist Matt King.
New plumbing and drainage inspection procedures in Huntlee and-North Rothbury area
Plumbing and drainage inspections in the Huntlee and North Rothbury areas are moving from Cessnock City Council to Building Commission NSW.
BASIX transition period ending soon
The BASIX Transition period for eligible signed building contracts will end on 30 September 2024. BASIX Certificates must be generated by this date to apply the pre-1 October 2023 BASIX standards.
Lingering worker shortages see trade rates continue to rise
“As the number of new homes under construction continues to decline builders are reporting fewer difficulties scheduling skilled trades workers on their jobs, although availability of skilled workers remains worse than prior to the pandemic,” stated Geordan Murray, HIA Executive Director – Future Workforce.