REIA will today outline the critical success factors and key next steps that must be taken to ensure the National Plan for Housing and Homelessness has the right outcome.
The Announcement:
The Real Estate Institute of Australia (REIA) has today welcomed Australia’s new look Cabinet.
REIA President Mr Hayden Groves congratulated the new Minister for Housing, Homelessness and Small Business the Hon Julie Collins MP.
“We welcome the appointment and are pleased – as expected – housing has been elevated to a cabinet position.
“We also thank former Shadow Minister for Housing and Homelessness the Hon Jason Clare MP and congratulate him on his promotion to the Minister for Education.”
Mr Groves said he looked forward to working with the new cabinet for a renewed whole-of-government approach to dealing with both housing supply and affordability.
“Housing supply and affordability were a battleground issue in the Federal Election 2022 for young Australians in particular and we must all rally around this critical issue.
“NHFIC estimates household formation is across the board expected to exceed supply by 164,300 by 2024-2025 after some short-term relief this year and next, which will maintain pressure on affordability, particularly as interest rates increase.
“In my home state of Western Australia that is the estimated equivalent of 20,000 new homes needing to be built.”
Mr Groves said that governments and industry cannot continue to do the same thing and expect a different outcome.
“To deal effectively with housing supply and in turn affordability, we will need to unlock solutions to better utilise existing housing inventory, deal with the building and construction crisis so more new homes can be built and look globally to find innovative practices.
“We will need to use every tool at both the state and federal government’s disposal and tackle economic and productivity reforms that have been for too long put in the too hard basket.
“This ranges from a coordinated Taskforce of Australian Treasurers’ to start the conversation in earnest in relation to stamp duty reform through to city and regional deals that have mandatory land release and supply targets built into them as part of the National Plan for Housing and Homelessness.
“REIA will be today writing to the new Minister for Housing and Homelessness outlining the critical success factors and key next steps that must be taken to ensure the National Plan for Housing and Homelessness has the teeth it so badly needs.
“Of course, REIA would also welcome the opportunity to be part of the Housing Supply and Affordability Council.”
REIA’s Getting Real, launched in October 2021, called for the creation of a national plan for housing A Home for All Australians.
Source: Real Estate Institute of Australia
