Assessment of housing settlement confirms change is required – HIA

The Productiveness Fee’s overview on the Nationwide Housing and Homelessness Settlement has confirmed the Housing Business Affiliation’s view that the present settlement “isn’t delivering enhancements to housing provide and subsequently not bettering housing affordability for each homeowners and renters,” HIA’s chief government trade coverage mentioned.

“The fee rightly factors out that the present settlement is working as a ‘funding contract, not a blueprint for reform,’” HIA’s Kristin Brookfield mentioned. “One of many key factors made is that bettering the capability of low-income renters to pay for housing and eradicating constraints on new housing provide are key to creating housing extra inexpensive.” HIA agrees.

The 612-page report, which comprises 37 suggestions throughout the array of points impacting housing provide and affordability, additionally raised considerations concerning the ongoing decline in homeownership charges.

“Declining homeownership charges will see extra stress on the opposite segments within the housing continuum,” Brookfield mentioned. “These Australians looking for personal rental housing or needing help from governments will solely develop bigger. Now could be the time to search out options to make sure the provision of housing in every phase of the housing market – from personal possession to social housing – is ample, 12 months on 12 months, to ship a real, sustainable enchancment in housing affordability for all.”

The report confirmed that the present settlement will probably be prolonged till 2024.

“HIA appears ahead to working with the Australian authorities as they put together the brand new settlement, in parallel with progressing the brand new Nationwide Housing and Homelessness Plan, the institution of Housing Australia, and the Housing Australians Future Fund,” Brookfield mentioned. “A brand new settlement should look to create a focused, measurable, and efficient enhancements in housing provide.”