ACT Budget Promises All the Right Moves - But Delivery Will Be Key
The Property Council has welcomed the ACT Government's housing commitments ahead of tomorrow's Budget, describing them as encouraging early steps towards hitting the Territory's ambitious target of 30,000 new homes by 2030.
Property Council ACT & Capital Region Executive Director Ashlee Berry said the focus on planning, tax, skills and land release was on the right track - but results would ultimately depend on delivery.
"The government is right - to get more homes built means we need to get the planning system working, unlock land, and tackle the cost barriers holding back supply," Ms Berry said.
"But the proof will be in the pudding. Delivery is what counts. The increase in land release volumes is welcome - but if over 90 per cent of new dwellings are expected to be multi-unit, planning reforms and construction viability will be crucial to turning these sites into homes."
Ms Berry said land release commitments were important but noted that large numbers of blocks remain available over the counter through the Suburban Land Agency.
"That tells us the issue is not just land availability - it's land affordability. If we want take-up, we need to make the numbers work for buyers and builders."
The Property Council also welcomed the Government plans to expand of stamp duty concessions, while urging a stronger focus on the supply side of the housing equation.
"It's great to see more people getting help into the market, but demand-side measures only go so far. If we want to bring prices down, we need more supply at all price points."
Ms Berry said investment in apprenticeships was a vital part of the solution.
"Funding apprentices is a critical move - and credit to the Government for following through their pre-election commitment on this. But we need to think about how we attract and retain young people in construction"
Ms Berry said the Property Council would continue to work with the Government to support zoning reform, remove post-approval delays, and unlock more homes in well-located areas.
"Our recent report Unlocking 60,000 Homes shows how thoughtful residential zoning reform can deliver more housing, greater affordability, and better use of existing infrastructure - so it's also encouraging to see planning reforms to support more townhouses and terraces to unlock Canberra's missing middle," she said.
"The private sector will do the heavy lifting on housing delivery - so in this Budget we need clear, consistent settings that give industry the confidence to invest," Ms Berry said.
