The Property Council of Australia welcomed the Prime Minister’s affordable housing announcements in today’s campaign launch.
“These policies are a very positive step towards making home ownership more affordable,” Chief Executive Peter Verwer said.
“The Property Council has said for some time that merely focussing on one side of the equation was never going to improve affordability.
“For the first time the Prime Minister’s announcement hardwires supply and demand solutions.”
Mr Verwer said that the release of close to a thousand hectares of Commonwealth lands and the commitment to 50/50 funding of state and local infrastructure charges are key outcomes.
“$500 million, or $1 billion with joint funding from state and local counterparts, will go a long way to reducing the costs of purchasing a new home,” he said.
“More importantly, it recognises that new home buyers should not have to subsidise infrastructure for those who already own their properties.
“Tying the supply side initiatives to improvements in development assessment approvals and cutting further red tape will save time and money for new owners.
“It also shows that the Federal Government has firmly commited to investing in urban infrastructure that builds communities.”
Mr Verwer said further that the tax incentives and home savings accounts will undoubtedly help purchasers to bridge the ever-widening deposit gap.
“The states and territories now need to commit to working closely with the Federal Government to ensure that these infrastructure and land supply initiatives are rolled out without delay,” Mr Verwer said.
For more information contact:
Peter Verwer, 0407 463 842