NSW has a housing target requiring an average of 75,000 new homes a year for 5 years. At least 72,500 or 97% of those homes will have to be delivered by private providers. The $1 billion dollars in last nights Federal Budget to be given to state governments to support new housing developments is a step in the right direction. So too is the funding for important roads like Mamre Road in Western Sydney which is critical for the development of future employment lands close to where people live. A smaller share of GST for NSW, particularly while the state takes the lion share of new migration, however is a step in the wrong direction. This makes it harder to invest more in the infrastructure required to make creating homes more feasible and deliverable. Too much money is being used to subsidise a broken GST system that doesn’t reward efficiency in government and a commitment to improve economic productivity. We have a lot of work to do if we are going to deliver 75,000 new homes a year but I know UDIA NSW and its members are ready to collaborate with government to meet this challenge. Jacqueline Vozzo Gavin Melvin Chris Minns Daniel Mookhey Paul Scully Courtney Houssos Jo Haylen John Graham Steve Kamper Anoulack Chanthivong Kiersten Fishburn
UDIA National strongly supports the Government’s ongoing commitment to address the nation’s lack of housing supply, through the targeted strategies announced in tonight’s Budget,” said Col Dutton, UDIA National President. However, for the Government to reach its ambitious National Housing Accord target to build 1.2 million new homes over 5 years, 97% of its target will be delivered by private housing providers. They will need the support from all governments, if they are to significantly increase their delivery capacity, as they struggle to return to their pre-Covid productivity. Market-wide solutions will be necessary to tackle a range of fundamental problems, particularly at a time when completions are in freefall. These include chronic lack of development ready land, significant shortage of skilled workers in the construction industry, accelerated cost of construction materials and inhibited project finance, all of which are holding back projects. UDIA National encourages the Government to keep a laser focus on the implementation of the initiatives announced in tonight’s Budget, to stabilise house prices and rents and ease the increasing cost of living pressures. Particularly important are those measures that enable our industry to build the homes for the people of Australia, so that they realise the dream of home ownership,” said Col Dutton. Our full media release can be found at this link https://lnkd.in/gZFYiuYD UDIA NSW, UDIA SA. UDIA NT, Urban Development Institute of Australia (UDIA) Victoria, UDIA Queensland, Urban Development Institute of Australia (WA)
