PROPERTY COUNCIL: HOUSING
AFFORDABILITY & SUPPLY REPORT PRESENTS BREAKTHROUGH OPTIONS
The Property Council of Australia today welcomed the release of
the Federal House of Representatives Standing Committee on Tax and Revenue’s
report on housing affordability and supply in Australia.
Property Council of Australia Chief Executive Ken Morrison said
the report lays out some commonsense solutions to dealing with the complex and
wicked problem of housing affordability.
“What’s new in this report is a recognition that the Federal
Government, and not just the states or local governments, can have an important
role in leading and shaping the state of housing in this country,” Mr Morrison
“We warmly welcome the recommendations that suggest the Federal
Government could encourage or require better planning systems at the state and
local levels, through financial incentives, infrastructure support or cash
“This has been a successful and collaborative model to achieve
difficult microeconomic reform outcomes in the past and it makes sense to apply
this to the challenges of housing supply and affordability.
“The report also recognises the potential of Build to Rent
housing to provide quality rental acommodation and an additional form of
housing supply and we support the recommendation to have Treasury conduct a
further detailed review into the benefits this could bring.
“It is pleasing the inquiry’s report places such strong focus on
making it easier, cheaper and quicker to supply the housing choice Australians
“It’s important that older people have the choice to live where
their kids are now growing up, giving teachers and nurses the opportunity to
live close to work, and that couples have greater scope to buy a home where
they can raise their young family.
“The Property Council believes more could be done to encourage
non-government sources of capital into the creation of affordable and social
housing – an omission from the report – and we urge policy makers to closely
consider the recommendations of the National Affordable Housing Alliance,” he
The Property Council also supports other recommendations which
include more transparency around developer contributions, avoiding
experimentation with negative gearing and capital gains tax settings, and
continued support for the National Housing Finance and Investment Corporation
to monitor crucial industry data including population, housing approvals and
Mr Morrison said while it was disappointing that the Opposition
members of the Committee decided not to endorse the report, he noted that Labor
members saw a big role for the Federal Government in these solutions.
“We note the strong critique of the planning ‘spaghetti bowl’
that has contributed to housing affordability from the Labor members of the
Committee and the importance they attach to Federal leadership and the
productivity benefits of reform,” he said.
Ellie Laing | 0416 007 830 | [email protected]