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The Housing Statement needs to include a mixture of measures to increase the supply of housing and provide confidence to all segments of the housing industry that they have a bright future.
Ahead of the release of the Housing Statement, HIA has written to the Victorian Ministers for Planning, Housing and Consumer Affairs outlining the six priority areas where reform is needed most to provide confidence and certainty to builders and homeowners.
With recommendations developed by HIA members representing the diversity of Victoria’s residential building industry, HIA’s Action Plan: More Houses for More Victorians identifies the six priority areas industry is looking to the Victorian Government to address in the Housing Statement. They are:
HIA acknowledges the Victorian Government has prioritised housing reform. HIA’s Action Plan is designed to spur this focus and encourage a whole of government approach to addressing housing supply and demand challenges that improve housing affordability and expand housing choice. Doing so will raise economic prosperity, individual wellbeing, and community liveability.
“Investors were responsible for 41 per cent of new homes financed for construction in the past year,” stated HIA’s Chief Economist, Tim Reardon.
“The RBA delivered the third rate cut of this easing cycle, bringing their benchmark cash rate down from 3.85 per cent to 3.6 per cent,” stated HIA Senior Economist Tom Devitt.
Following several years of advocacy by HIA, the WA Government recently announced a review of WA’s home building laws, including the Home Building Contracts Act 1991 (HBCA).
“The Victorian government’s Single Home Code is another small, but important step, towards improving the Victorian planning system,” stated HIA Executive Director, Keith Ryan.