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“The announcement by the NSW Government to establish a Building Commission by years end must not add to the regulatory burden and red tape faced by the residential building industry,” says HIA NSW Executive Director, David Bare.
“More than ever before, supply of new dwellings is critical to address a growing housing shortage and affordability crisis in the state.”
While there was little detail on how such a commission would benefit increased housing supply, it is rare that significant regulatory changes result in greater efficiencies.
“Therein lies the challenge for the Premier, Minister Chanthivong and Commissioner Chandler. The NSW economy and those desperately seeking housing can ill afford the formation of another large bureaucratic department within government.
The Minn’s Government must consult our industry on the design, structure and operation of a Building Commission to ensure it yields an overall benefit to the delivery of housing. It must not serve as another regulatory hand brake on supply.
HIA looks forward to continuing engagement with the NSW Government and Commissioner Chandler on the formation of the Building Commission to ensure that housing supply is not sacrificed in the process.”
“The influx of overseas migrants into Australia in the last couple of years has added significant demand for new homes. Despite this, skilled trades in the residential sector are not recognised on the Australian government’s Skills Priority List,” stated HIA Senior Economist Tom Devitt.
HIA has released its Housing Scorecard. Once again Victoria is underperforming. With the Victorian State Budget next month there is also a risk that unnecessary tax increases will entrench this poor outcome.
“Today’s CPI figures are likely to see interest rates remain high for longer as inflation becomes increasingly embedded in the economy,” stated HIA’s Chief Economist, Tim Reardon
“South Australia has once again taken out the top spot in HIA’s Housing Scorecard,” stated Stephen Knight, HIA Executive Director.