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Federal Government election opportunity to address housing crisis

As the federal election in May edges closer, it is time to drill down into the issues that matter for homeowners in Australia. We want to ensure all political parties are focused on housing supply and affordability as a critical challenge that needs attention.

To that end, UDIA has launched a federal election campaign that outlines real solutions to kick-start the economy, create jobs and address housing affordability.

On a national scale, the development and construction industry has been an essential engine room of the economy throughout the pandemic, delivering $360 billion in economic output, 1.145 million jobs and nine per cent of Australia’s gross domestic product in the last year.

As an industry, we can continue to support economic growth but we need to make sure the Federal Government plays its part in ensuring we can keep a lid on housing affordability.

Historically thin and continually declining housing supply pipelines, together with pandemic-driven material and labour shortages, mean Australia is heading towards further deterioration in housing affordability unless something is done to stimulate supply to meet demand.

As population growth returns to normal levels, which is essential to underpin labour growth and employment, housing demand will only increase further.

Many parts of Australia are already experiencing a severe housing affordability crisis.

While WA remains one of the most affordable states, this could quickly change without support from both the Federal and State Government.

We have focused our election recommendations on relatively simple and inexpensive measures the Federal Government can take such as streamlining administration, removing excessive planning delays and freeing up enabling infrastructure to deliver development-ready land.

In particular, we focus on the ability to provide a home for everyone by delivering incentives for greater housing supply, development-ready land, choice and affordability across the spectrum.

We would also like to see the expansion of the First Home Loan Deposit Scheme to 15,000 places annually on new homes.

The delivery of core infrastructure is critical so that we create more liveable communities. That means an overhaul of the planning, funding and delivery of enabling infrastructure that grows cities and housing supply.

Other areas we cover in our election solutions include streamlining environmental approvals and encouraging broader tax reform at a state level, including in relation to stamp duty and land tax regimes.

At the end of the day, whichever party wins the leadership in May, ensuring all Australians have access to a home that suits their needs should be a top priority.

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