Property Council welcomes housing led State Budget
The Property Council of
Australia has welcomed today’s NSW State Budget which has a clear focus on
housing supply and affordability.
Property Council NSW
Executive Director Luke Achterstraat said announcements on Housing Supply
measures, Stamp Duty and Shared Equity schemes were clear indications that the
government has put housing at the top of their priorities.
“It’s great to see the NSW
Government’s commitment to help Australian’s achieve home ownership and put
housing front and centre,” Mr Achterstraat said.
"There is no doubt we
are experiencing a housing supply crisis in NSW which is putting a strain on
affordability, both in terms of ownership and rentals,” he said.
"The emphasis on
assisting some of the state's most vulnerable people through this assistance
program is a well-intentioned endeavour. For many Australians, their home is
their most valuable financial asset so housing security can create financial
Mr Achterstraat said the
$500m committed to address housing supply in the State Budget would deliver
more jobs and homes for the residents of NSW at a time when housing
affordability concerns remained at high levels.
“Improving the planning
system and delivering more housing supply are the biggest levers the state
government has to address affordability,” he said.
“We are some 100,000 homes
short of where we need to be in NSW so it is timely to support the private
sector in getting on with the job of building quality homes and beautiful
communities for the people of NSW.
Mr Achterstraat also welcomed the recognition and
funding for infrastructure.
“There is an enormous difference between land that
is simply rezoned and land that is ‘development ready’ – the missing ingredient
is enabling infrastructure such as water, parks and transport,” he said.
“The $300m earmarked for enabling infrastructure
needs to be delivered strategically and efficiently.”
Media contact: Aidan
Green | E [email protected]