Michelle Lensink’s Post

South Australian households and businesses are bracing for more cost of living pain from July 1 with SA Water bills likely to be hiked after the Malinauskas Government failed to make an investment in last week’s State Budget to support previously announced land releases. The final SA Water determination for the next regulatory period 2024-28 is due in the coming days and will reveal how much water bills are set to increase from July 1. The former Liberal Government saved South Australian households an average of $200 per year on water bills during the last regulatory period, while small businesses received deductions of approximately $1,350. This is in direct contrast to the former Labor Government, with an independent inquiry finding they deliberately inflated the value of SA Water’s regulated asset base, driving up the cost of water bills for all South Australians. Last week’s State Budget didn’t include any new funding for supporting infrastructure, raising concerns water bills will be hiked to support the development of land releases announced more than 12 months ago. Labor’s much-hyped land releases have hardly been the “fast track” to housing as promised, with not a single house built yet and Renewal SA recently dubbing the Dry Creek site “incredibly complex” adding “there are a range of issues associated with it”.

How is each party planning to tackle the cost-of-living crisis in this QLD state election? Both the LNP and Labor are offering distinct strategies to address the cost-of-living challenges in Queensland, but their approaches vary significantly. Labor is focused on immediate relief through direct subsidies, such as energy rebates, reduced public transport fares, and other one-off payments to households and businesses. Their $8.2 billion package includes measures like a $1,000 energy rebate for families and discounts on car registration and utility bills . However, this approach has contributed to a $3 billion deficit in the state budget for 2024-25. Running such a large deficit means the government is borrowing money, which increases debt and could lead to higher interest payments. Over time, this reduces the ability to fund essential services and can even contribute to inflation, pushing up prices further. In contrast, the LNP is targeting longer-term, structural reforms. Their approach includes abolishing payroll tax for businesses, reducing regulatory burdens, and promoting private sector investment to lower costs across essential sectors like housing, energy, and healthcare . By addressing the root causes of rising costs, the LNP aims to prevent future price increases and reduce the need for ongoing government spending. This focus on structural changes provides a more sustainable path to easing financial pressures without adding to the state’s deficit . Overall, the LNP’s approach is better suited for long-term economic stability. By focusing on cutting taxes and improving business conditions, they aim to lower costs at their source, preventing inflationary pressures and reducing reliance on debt. This strategy not only provides relief now but also ensures Queensland’s economy remains healthier and more resilient in the future. #QLDElection #CostOfLivingCrisis #LNP #Labor #EconomicStability #TaxReform #QueenslandEconomy #LongTermSolutions #SustainableGrowth #PayrollTax #StructuralReforms #EnergyRebates #QLDPolitics #AffordableLiving #FutureFocused

Since Labour has come into the power the focus has rapidly turned to planning and land use with a key policy from the Labour manifesto to build 1.5 million new homes over the next parliament. Based on Government data from 2022, England has a land area of just over 13,046,000 hectares with just over 37.4% of the areas protected against development by one or more natural designation including National Parks, Areas of Outstanding Natural Beauty (AONBs) and Sites of Specific Interest (SSSIs). Whilst 10.4% of England’s land is located within Flood Zone 3 and 8.4% at risk of flooding from rivers and seas.  This still leaves significant scope of land that can be considered for homes. Despite highlighting problems with the planning system that has curtailed house building in England, the reaction to known listed housebuilding names has been more muted. With these main companies listed below individually all outperforming the FTSE 100, 250 and FTSE 350 Real Estate Sector over the past 20 years.   Undoubtedly, low interest rates and tax breaks have helped support the rise of housebuilders over this period but given this added impetus from government, scope of land availability and target for new homes this outperformance could well continue. Thank you Claire Bennison for the analysis.

well...it had merit. trouble is, most NZers could only see a 'Maori takeover' - and fear (for change) gripped the hearts of many. It was never a 'Maori" thing...it was simply a program that shared responsibility for a treasured resource...water. Great move by the coalition, it's going to look great on the books for their cash-saving budget. only thing is...the responsibility of water (waste etc) lands right back at the feet of the local councils. Here come the water rate rises - because, you just lost economy of scale 3 waters gave. So the broken assets land back in the hands of councils, who are already broke and under constant pressure by ratepayers. i for one, will be looking forward to how water infrastructure will be paid for and by who. Some believe the 3 water concept liken to an asset theft...phffff, by who? if anything, the 3 water project 'protected' our water resources. it also centralised budgets and maintenance. Hoorah indeed...tax cuts on the one hand...raised council rates on the other....happy drinking

LGNZ President Sam Broughton spoke to RNZ on Monday about the value communities get for their rates, and the pressures on communities and councils right now. “Average rates is about $2,900 a year. That’s about the same as many insurance bills or electricity bills are for a year. For your rates bill you get all your roads, all your parks, all your swimming pools, all your libraries, all your water supplies, all your wastewater dealt with, all of your waste and recycling collected up and dealt with. “It’s hard for communities and for councils at the moment, but it’s just the true cost of what infrastructure is for our communities. Infometrics Chief Executive Brad Olsen says, “If you look at the likes of the infrastructure deficit, local councils are responsible for around a quarter of it, yet they take in about 10% of the total revenue.” “The question for households is, given we’ve let things slip away so much on the infrastructure front – what are we happy to pay for and, most importantly if we are not happy to pay those high rates, what are we happy to give up on?” Listen to the full interview here: https://ow.ly/t7pE50Rz5j3

📢 We have a new government, but what does this mean for planning? 📌 In what is being seen as the most dramatic landslide victory in recent years, Britain has woken up to a Labour Government for the first time in nearly a decade and a half. Central to what was the party’s election-winning platform are its proposals to overhaul the planning system, the key promises include: 🏡 1.5 million houses built over the next 5 years to be achieved in part through restoring mandatory housing targets. 🗺 A brownfield first strategy, with a strategic approach to green belt land that will release lower quality grey belt land for housing. 🏗 A pledge to build 'a new generation of new towns', using an 'expert independent taskforce' to choose locations. 📝 300 new planning officers funded by £20 million in revenue from increasing stamp duty on residential properties bought by non-UK residents. 💷 Delivering more social and affordable housing through strengthening planning obligations, and supporting councils and housing associations. The promises from the Labour government present a major shake-up to the system and the implications for construction, but will these be delivered? To find out more, please visit the article on our website. #planning #election #government #housing #UK #morganelliot

Property Industry Ireland (PII) see the housing measures announced in Budget 2025 as having a mixed impact. Some of the measures announced deliver PII’s key asks on housing. The extension of the Help-to-Buy scheme to end 2029 provides certainty and support for many first-time buyers of new homes. The commitment of €3 bn to infrastructure is welcome. PII have long highlighted the need for investment in the infrastructure that supports the delivery of much needed new homes. However, the increase in the Stamp Duty rate on the bulk purchase of residential houses is disappointing and will have a negative effect on the attractiveness of Ireland to international funding. Ireland needs to increase the delivery of homes across all tenures and types requiring substantial levels of development funding. This increase in stamp duty sends a mixed message at a time when we should be looking to attract higher levels of international funding.   PII await further detail on the announced changes to the RZLT regime as the impacts will need careful consideration. The 12-month timeframe for the commencement post planning may not be sufficient given the range of challenges that exist in the delivery of new homes. Read our pre-Budget submission here -> https://lnkd.in/exxvQexE #Budget2024

Hang on a minute didn't labour just promise in their manifesto to deliver 1.5 million homes in the next 5 years? Don't they realise that infrastructure is an enabler for this! Although this is headline news in the industry, the writing was always on the wall. It's all smoke and mirrors ultimately, a potential way to recycle funding. Part 1- new government starts pushing narrative about the mess the previous regimes policies has left us in and the vast shortfall in money to deliver on previous promises ✅ Part 2- the cash grab. Infrastructure the first to be hit but will it stop there? Lots of LUF and Towns funding that still isn't committed, I wonder where they might head next... Part 3- the short term knock on effects of messing with main contractor and supply chains order books. A lot of these schemes are high value (£30m+), expect to see inflation and volatility in the market. Infrastructure project declines start to negatively impact housing starts. Part 4- the big reveal? It turns out that the new government can find some new funding initiatives after all but your 'nearly ready' projects that were cancelled will have to reapply for funding under a new banner. The government is able to recycle the funds in a way that suits their own narrative and metrics. 🚧 Maybe it won't play out like this, maybe it will. Unfortunately, no matter how this plays out, we seem to get further away from the vital projects we need to deliver public services and affordable homes. #squeakybumtime #constructionindustry #housing

🚧 Soaring Construction Costs: Key Challenges Facing Australia's Housing Market Australia is facing unprecedented challenges in the housing market, driven by major infrastructure projects and increased taxes, according to latest data from NSW Productivity Commission. Here are the key factors: 📌 Labour & Material Shortages: Government-led infrastructure projects, like Victoria's Big Build, are diverting workers and materials away from housing, pushing up costs. 📌 High Taxes & Levies: Taxes, levies, and duties now account for up to 40% of the cost of a new home, according to industry leaders. 📌 Stamp Duty Impacts: In Sydney, stamp duties exceeding $110k are discouraging downsizing, limiting housing supply for families in need of larger homes. #HousingMarket #ConstructionCosts #RealEstate