[15 July 2022]
The Property Council of Australia has welcomed news that new Federal Housing Minister Julie Collins is meeting with her state and territory counterparts, saying integrated solutions are needed to address Australia's housing challenges.
Property Council of Australia Chief Executive Ken Morrison said Labor took a broad housing agenda to the last election and it is important that all governments work closely with industry to help deliver them.
"The Federal Government was elected with a broad housing plan, which included measures targeting housing supply, assistance to aspiring home owners, downsizers and new affordable and social housing, and we fully support these priorities," Mr Morrison said.
"The challenge of housing affordability doesn't disappear when interest rates go up. This needs to remain a critical area of policy focus so it is good to see Minister Collins leading this conversation so quickly.
"The official data continues to show a looming housing supply crunch coming and we know that rental markets are tightening fast.
"It will be important that the new National Housing and Homelessness Plan delivers solutions for housing supply, encourages more rental housing and incentivises the creation of affordable and social housing. The industry looks forward to working with governments on these priorities."
Official housing supply forecasts show housing supply set to drop by around one third over the next four years, creating a 163,400 dwelling deficit nationally by 2032.
"We are on the verge of a severe supply shortage just as migration will grow to pre-pandemic levels," Mr Morrison said.
"This lack of supply is also evident in the rental market where a shortage of properties is already pushing rents up. We need creative approaches, such as enabling build-to-rent housing, to ease supply constraints."
"The establishment of Housing Australia and a National Housing Affordability and Supply Council are further crucial steps to ensure governments, industry and community and social housing providers are working together to address this challenge collaboratively.
"As one of the peak bodies in the National Affordable Housing Alliance, The Property Council has called for the creation of innovative funding solutions to tackle Australia's housing supply and affordability crisis.
"We look forward to continue working with Minister Collins and the housing ministers across the country to address the critical issue of housing affordability and supply."
