National Cabinet meeting must focus on boosting urgently needed supply says UDIA
As the Albanese Government meets tomorrow with State and Territory counterparts at National Cabinet to discuss housing, planning and affordability, UDIA National says it is critical to focus on stimulating supply, streamlining planning and delivering new dwellings across the housing spectrum.
“While pressure is mounting for Governments to find a ‘silver bullet’ to bring down rents and make housing more affordable, the stark reality is that these problems can only be tackled by delivering a series of measures to bring more homes to the market, much more quickly,” said Max Shifman UDIA National President.
The success of every single existing and proposed Government housing initiative depends on solving some fundamental problems – streamlining planning processes and regulations in areas already identified for development, delivering more development ready land where there isn’t enough, and ensuring supporting infrastructure is delivered to support growth.
All housing, whether market, affordable or social, relies on the same low supply of land and infrastructure, shares the same building capacity shortfalls, and similar cost structures.
“With the HAFF caught in a political battle which is holding up the delivery of affordable and social housing, it is more important than ever to establish initiatives to ensure overall housing targets can be met by States and Territories, with the right types of housing to meet demographic needs and attainability thresholds,” said Mr Shifman.
These issues have been identified for decades, and the current declining housing supply pipeline is a direct result of government policy and inaction of this extended period. Tackling this problem needs a whole of government approach, working closely with industry to deliver.
We are now facing accelerating house prices, even in the face of rapid interest rate increases, with demand beginning to rapidly exceed housing supply. Shortfalls are projected at 21,260 for at-market houses and 45,000 for affordable and social houses this coming year alone.
Every tool at our disposal must immediately be used to boost and sustain the supply of new housing before things become worse.
UDIA National is keen to see the output from National Cabinet to keep pressing for measures that build housing supply for the good of all Australians.
Deanna Lane | National Media & Communications Manager | 0416 295 898 | email@example.com