Sydney-siders support strong government action to boost housing supply

In advance of tomorrow’s NSW State Budget, new research commissioned by the Property Council of Australia released today shows strong community support for government action to implement key reforms to boost housing supply.

The research was conducted by Newgate Australia with 1,000 residents across metropolitan Sydney and confirms that the community believes housing affordability and availability are at crisis levels in Sydney and that boosting housing supply is critical to addressing rising prices.

“The research shows that the community supports action to boost housing supply, particularly smaller homes built more quickly if it they are connected to transport, local infrastructure and part of a community,” Property Council NSW Executive Director Jane Fitzgerald said today.

“The community understands that housing supply is critical – we simply must build more homes to meet the demand of a growing, global city.

“The community is also supportive of changes to planning regulations and approvals to speed up the building of homes and this requires action. While plans, forums and consultation are an important part of the process, action will determine results.

“While the affordability plan from the NSW Government is largely a good one and addresses some key concerns around the stamp duty impost for first home buyers, this research shows the community wants to see a long-term commitment to reforms to boost housing supply.”

The research found that:  

  • 85 per cent of Sydney residents agree that housing availability and affordability are at crisis levels in Sydney.
  • Two thirds of Sydney residents support changes to planning regulation and approvals to speed up the building of homes.
  • Two thirds of Sydney residents rated the State Government’s performance on housing issues as poor (noting that the research was conducted the weekend before release of housing affordability plan).
  • 73 per cent of Sydney residents support the idea of a special State Government scheme to help first home buyers get a low deposit loan when private lenders can’t help.
  • 71 per cent of Sydney residents agree with the idea of building more medium density housing to boost supply and this rises to 83 per cent if infrastructure keeps pace with growth.
  • Two thirds of Sydney residents support the idea of Councils being compelled to meet new housing targets in the draft Greater Sydney Commission District plans.

“The research shows that the issue of housing affordability is incredibly important to the community – more important than job opportunities and security, more important than health and education services and more important than crime and anti-social behaviour,” Ms Fitzgerald said.

“This poll comes at an important time and is an excellent measure of community sentiment about the issue of housing affordability and the actions needed to address the issue from all three levels of government.

“These actions are important to boosting supply and meeting the demand that will come from a growing population, a bigger city and tax incentives for first home buyers.”

Media contact:  William Power| M 0429 210 982 |   E wpower@propertycouncil.com.au