The Property Council of Australia has called upon the incoming NSW State Government to make housing supply a 'Premier's Priority' following the release of alarming building approval figures by the Australian Bureau of Statistics today.
Property Council's Acting NSW Executive Director Adina Cirson said it was of grave concern that the lowest building approval level in ten years in the midst of a housing crisis.
"These statistics prove that housing supply must become a Premier's Priority ensuring that responsibility for agency coordination is delegated to the NSW Department of Premier and Cabinet with relevant Minister(s) required to report on development outcomes," Ms Cirson said.
"Without urgent action, we will see further rent increases as our housing supply is falling so far behind what is actually needed to meet everyone's basic right to housing.
"Supply is quite simply not keeping up with the demand we need now, let alone in the future. We know that we need 725,000 homes by 2036 and we are already 100,000 homes behind on the existing target. To say there is a scarcity of supply is a huge understatement."
Ms Cirson said that despite the looming state election, it was time to take the 'politics out of planning' in order to open the door to more housing supply sooner.
"The current housing crisis is such that we should not be absolving the accountability of Cabinet for the performance of the overall planning system.
"It is the leadership of the Premier that must be leveraged if we are going to make the systemic changes which are required, and we are calling on whoever walks into office after 25 March to make this their number one priority."
