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“The package of measures primarily focuses on increasing the supply of social, community and rental housing to improve affordable housing options in the Territory.
“This is a commendable commitment by the ACT Government. It recognises the need for ongoing investment in housing supply and acknowledges the significant shortfall of all forms of housing, but particular housing to support those in our community under the greater housing stress.
“During the Budget briefing HIA highlighted that whilst this is an important initiative, the Government needs to ensure the program does not add more pressure on current labour and supply shortages the housing industry continues to face.
“The ACT Budget also needs to look at complementary policies to this Housing Package, that address the long term skill shortages in the industry. We must continue to bring more apprentices and skilled workers into the industry in the Territory.
The Budget also highlights that over the next five years the ACT Government will release a range of greenfield and infill residential development sites providing capacity for more than 16,000 dwellings.
“Whilst this is a good start, HIA will continue to advocate for increasing the supply of shovel ready, affordable land to keep pace with the current demand for new homes and our expected population growth over the next 2-3 years,” concluded Simon Croft.
For further information please contact:
Simon Croft, HIA Acting Executive Director ACT/Sthn NSW 0417 032 160
HIA is aware that over the past week members have been receiving a range of advice from suppliers on cost increases to several building materials and other related construction equipment such as skips, plant and equipment hire.
The Housing Industry Association (HIA) has backed Brisbane City Council’s ‘More Homes, Sooner’ plan, warning that community opposition risks undermining much-needed housing supply and worsening affordability pressures across the city.
HIA is aware that industry is raising concerns about price increases to fuel and materials arising from the conflict in the Middle East. To assist members to account and respond to price increases we have prepared information on dealing with cost uncertainties and fluctuations under HIA contracts.
This opinion piece from HIA Chief Economist Tim Reardon responds to the Reserve Bank of Australia Financial Stability Review and discusses how the cumulative tightening of macroprudential settings has increasingly locked first home buyers out of the market.