Following the recent Economic Reform Roundtable processes, the government has announced a series of initiatives aimed at streamlining housing delivery and modernising project assessment systems across the country.
This includes the integration of artificial intelligence in code processes, addressing delays caused by under-resourced environmental assessments and a comprehensive review and short pause of parts of the National Construction Code (NCC) to get all states back into the process.
These reforms build on the already announced ASIC review of stamp duty reporting requirements for superannuation funds under RG 97 – an effort that could unlock 35,000 additional new homes over five years.
In a sequence of key submissions to the Roundtable, the Property Council advocated for the adoption of AI in planning and improved stamp duty reporting mechanisms under RG 97, in addition to fine-tuning of code and assessment systems as endorsed by the Productivity Commission.
The Property Council has also advocated for a fast-track pathway to unlock the tens of thousands of homes currently stalled in the Environmental Protection and Biodiversity Conservation (EPBC) Act approval pipeline and supported a swift review of the vital NCC.
Property Council Chief Executive Mike Zorbas said the announcements represent a big boost to housing supply.
"This is a win-win roadmap to better housing supply," he said.
"Today's announcements will help unlock tens of thousands of new homes across the country.
"At the same time, these changes will ensure a regular improvement cycle for vital safety, quality and sustainability upgrades to our housing that are consistently implemented by all states and are cost-effective at the point of construction and through the life cycle of the home.
"Now, instead of an unproductive ten-year freeze, we will get both extra new homes, the continuation of a working commercial code and a residential construction code that states might actually sign up to.
"Let's not kid ourselves. The wheels fell off a nationally harmonious residential construction code several years ago when states determined to go their own way in their own time.
"The necessary residential code recalibration will achieve the national consistency we all know is the key to an efficient housing production pipeline that must be regularly updated to meet the advancing quality, safety and sustainability expectations of Australian families.
"Equally, Minister Watt's targeted extra resourcing to environmental assessments means rigorous standards can immediately be applied to unlock tens of thousands of urgently needed new homes.
"Let's also put AI to work turbocharging housing delivery. A smart rollout of AI into planning and assessment systems will give decision-makers the clarity they need and save valuable time in delivering new homes.
"Add to this the 35,000 homes and roughly $10 billion of investment into city-shaping assets like commercial offices, industrial parks and shopping malls from the potential changes to stamp duty disclosure requirements under RG 97, and these reforms will help boost the budget bottom line, grow the economy and improve our cities.
"We also welcome the commitment to remove barriers to the uptake of modern methods of construction, such as prefab and modular housing. These homes can be built quickly, affordably and to high standards and looking at ways to boost production is a smart move."
Mr Zorbas reiterated that the coordinating work of the NCC is vitally important, and the review is welcome.
"NCC 2025, dealing with ongoing improvements in commercial construction, will push ahead.
"This is a sensible move, and I welcome it."
Mr Zorbas said today's announcements and the Economic Reform Roundtable process over the past few months have shown that consensus can be found and the interests of our growing cities and a productive property sector are 100 per cent aligned.
"Low-cost, light-touch productivity boosts have been staring us in the face, and we welcome the government's initiative in consulting with industry, achieving consensus and driving necessary change," he said.
