Home / Newsroom / Federal Budget’s focus on increasing housing supply welcomed by UDIA

Federal Budget’s focus on increasing housing supply welcomed by UDIA

The Urban Development Institute of Australia (UDIA) strongly supports the Government’s ongoing commitment to address the nation’s lack of housing supply, through the targeted strategies announced in tonight’s Budget,” said Col Dutton, UDIA National President.

However, for the Government to reach its ambitious National Housing Accord target to build 1.2 million new homes over 5 years, 97% of its target will be delivered by private housing providers. They will need the support from all governments, if they are to significantly increase their delivery capacity, as they struggle to return to their pre-Covid productivity.

Market-wide solutions will be necessary to tackle a range of fundamental problems, particularly at a time when completions are in freefall.  These include chronic lack of development ready land, significant shortage of skilled workers in the construction industry, accelerated cost of construction materials and inhibited project finance, all of which are holding back projects. 

The 2024-25 Federal Budget measures, specifically those focused on supporting housing delivery are positive and include:

UDIA encourages the Government to keep a laser focus on the implementation of the initiatives announced in tonight’s Budget, to stabilise house prices and rents and ease the increasing cost of living pressures. Particularly important are those measures that enable our industry to build the homes for the people of Australia, so that they realise the dream of home ownership,” said Col Dutton.


Key Facts

Media Enquiries:
Deanna Lane | Director, National Media & Communications | 0416 295 898 | media@udia.com.au